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Tickets for a raffle cost $19. There were 798 tickets sold. One ticket will be randomly selected as the winner, and that person wins $1300 and also the person is given back the cost of the ticket. For someone who buys a ticket, what is the Expected Value (the mean of the distribution)

User Clausen
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1 Answer

3 votes

Answer:

-17.32

Explanation:

(1319- 19*797)/798 = -17.3233

User Dmitry
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