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At a carnival, there is a raffle with 200 tickets. One ticket will win a $210 prize, one ticket will win a $150 prize, one ticket will win a $120 prize, one ticket will win a $110 prize, and the remaining tickets will win nothing. If you have a ticket, what is the expected payoff?

User ITux
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1 Answer

6 votes

We get that the expected value is:


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