Michcardwell52881 Michcardwell52881

08-05-2021
Mathematics

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Help!!! Please just answer the question. Thank you! Let's compare two different raffles to see which ticket you should buy? A. Raffle 1: 800 raffle tickets are sold $2.00 each. There is one gran prize for $450 and two consolation prizes of $100 each that will be awarded. What is the expected value of one ticket?

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codiepienagoya codiepienagoya

11-05-2021

Answer:

The answer is "Expected Value = - 0.94 (Loss) "

Step-by-step explanation:

Please find the table in the attachment for the complete solution.

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