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Help!!! Please just answer the question. Thank you! Let's compare two different raffles to see which ticket you should buy? A. Raffle 1: 800 raffle tickets are sold $2.00 each. There is one gran prize
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Help!!! Please just answer the question. Thank you! Let's compare two different raffles to see which ticket you should buy? A. Raffle 1: 800 raffle tickets are sold $2.00 each. There is one gran prize for $450 and two consolation prizes of $100 each that will be awarded. What is the expected value of one ticket?

User Jabba Da Hoot
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1 Answer

5 votes

Answer:

The answer is "Expected Value = - 0.94 (Loss) "

Explanation:

Please find the table in the attachment for the complete solution.

Help!!! Please just answer the question. Thank you! Let's compare two different raffles-example-1
User Logan Shire
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