Question

The PTA is holding a raffle. The prize is a camera worth $200. Each raffle ticket costs $5. One hundred tickets are sold and a winner is drawn at random. Find the expected value of the purchase of a ticket.

Answer 1

Answer: -$3.00

Step-by-step explanation:(1/100)(200-5)-(99/100)5= -$3.00/ticket

I really hope this helps. So sorry if it doesn't

Answer 2

Expected value of the purchase of a ticket would be $3.00.

Explanation:

The PTA is holding a raffle. Each raffle ticket costs $5.00.

The prize is a camera worth $200.

One hundred tickets are sold = 100 × 5 = $500.00

winner is drawn and given the prize of worth $200.

$500 - $200 = $300

So the expected value of the purchased ticket =
`(300)/(100)` = $3.00

Expected value of the purchase of a ticket would be $3.00.