Free Brainly!! if answered correctly>>A club is holding a raffle. Ten thousand tickets have been sold for $2 each. There w ill be a 1st prize of $3000, 3 second prizes of $1000 each, 5 third prizes of $500 each, and 20 consolation prizes of $100 each. Find the expected winnings of a single ticket
1 answer:
Answer:
1000(1/20000) +
300(2/20000) +
10(20/20000) +
=
1800/20000 = .09
Step-by-step explanation:
Each ticket purchased is expected to win 9 cents
Each ticket purchased cost 75 cents
If you interpret expected winnings per ticket to include the cost then each ticket is expected to lose 66 cents.
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