Convert 10 ft to inches by multiplying it by 12. That’s 120 inches. Divide this number by 20 inches per strip to get 6 strips needed.
The range is the difference between the highest and lowest values in a set of numbers. To find it, subtract the lowest number in the distribution from the highest.
To find the expected value of your gain in each prize, subtract the price of the ticket from the prize:
If the prize is $500: $500 - $2 = $498
If the prize is $250: $250 - $2 = 248
If the prize is $160: $160 - $2 = $73
But if you did not win any cash prize, you do not have any gain because
0 cash prize - $2 ticket = -$2 which is a loss
