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OpenStudy (anonymous):
One thousand raffle tickets are sold for $5.00 each. One grand prize of $800 and two consolation prizes of $100 each will be awarded. Jeremy purchases one ticket. Find his expected value.
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OpenStudy (anonymous):
one out of a thousand.
OpenStudy (anonymous):
ummmm yeah but there is more to that
OpenStudy (anonymous):
not really three out of the one thousand are grande but that doesnt make his chances any higher/lower
OpenStudy (anonymous):
What is the total value of all prizes combined? What are the total number of tickets sold?
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