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Mathematics 12 Online
OpenStudy (anonymous):

One thousand raffle tickets are sold for $5.00 each. One grand prize of $1000 and two consolation prizes of $100 each will be awarded. Jeremy purchases one ticket. Find his expected value. Show your work for full credit

OpenStudy (anonymous):

you spend 1000*$5=$5000 you win $1000+$400=$1400 for a net loss of $5000-$1400= $3600 $3600/1000= $3.60expected loss

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