Question content area top Part 1 Five thousand tickets are sold at​ $1 each for a charity raffle. Tickets are to be drawn at random and monetary prizes awarded as​ follows: 1 prize of ​$600600​, 3 prizes of ​$200200​, 5 prizes of ​$1010​, and 20 prizes of​ $5. What is the expected value of this raffle if you buy 1​ ticket?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter0: Preparing For Algebra
Section: Chapter Questions
Problem 70POT
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Question content area top

Part 1
Five thousand tickets are sold at​ $1 each for a charity raffle. Tickets are to be drawn at random and monetary prizes awarded as​ follows: 1 prize of
​$600600​,
3 prizes of
​$200200​,
5 prizes of
​$1010​,
and 20 prizes of​ $5. What is the expected value of this raffle if you buy 1​ ticket?
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