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A raffle ticket is sold for $3.50 each and the prize for winning the raffle is $250. If 100 people entered the raffle, what is: the expected value? = are you expected to win or lose the raffle? = a fair
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A raffle ticket is sold for $3.50 each and the prize for winning the raffle is $250. If 100

people entered the raffle, what is:
the expected value? =

are you expected to win or lose the raffle? =

a fair price for the raffle ticket? =

User Pedroinpeace
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1 Answer

4 votes
Expected to lose. they initially paid $350 for the tickets and are up charging the price. and the winning price is $100 less.
User Eugene Petrov
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6.4k points
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