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At a local fair, a raffle is being held. There were 1,067 tickets were sold for $10 each. There is one first-place prize of $900, 8 second-place prizes of $90, and 13 third-place prizes of S15. Determine the axpected net value of one ticket sold. Round the final answer to the nearest penny. Number dollars Is this game considered fair? Click for Lint

At a local fair, a raffle is being held. There were 1,067 tickets were sold for $10 each. There is one first-place prize of $900, 8 second-place prizes of $90, and 13 third-place prizes of S15. Determine the axpected net value of one ticket sold. Round the final answer to the nearest penny. Number dollars Is this game considered fair? Click for Lint

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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At a local fair, a raffle is being held. There were 1,067 tickets were sold for $10 each. There is ane first-place prize of $900, 8 second-place prizes of $90, and 13 third-place prizes of $15. Determine the expected net value of one tícket sold. Round the final answer to the nearest penny. Number dollars Is this game considered fair?
Transcribed Image Text:At a local fair, a raffle is being held. There were 1,067 tickets were sold for $10 each. There is ane first-place prize of $900, 8 second-place prizes of $90, and 13 third-place prizes of $15. Determine the expected net value of one tícket sold. Round the final answer to the nearest penny. Number dollars Is this game considered fair?
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