Free Brainly!! if answered correctly>>A club is holding a raffle. Ten thousand tickets have been sold for $2 each. There w

Question

3 years ago

6

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

Mathematics

1 answer:

Semenov [28] · Answer 1 · 2022-03-19T15:46:49+03:00

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.