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earnstyle [38]
3 years ago
6

ANSWER ASAP

Mathematics
1 answer:
Rashid [163]3 years ago
5 0

Answer:

$2.36

Formula Used:

<em>[n/t * (p - c)] + [(t - n)/t * (-c)] = V</em>

V = expected $ value

n = # of tickets drawn for a prize (one prize is one drawn ticket, etc.)

t = total # of tickets

p = amount of prize money

c = cost for one ticket

Steps:

1/500(199) + 499/500(-1) = -0.6

2/500(39) + 498/500(-1) = -0.84

20/500(1) + 480/500(-1) = -0.92

(Swap signs, negative becomes positive)

0.6 + 0.84 + 0.92 = 2.36

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