samanthamaddox02
contestada

1) The local fire company is having a raffle to raise money for Fourth of July fireworks. They
will sell one thousand tickets at $10 each. They will award one first prize of $300, one second
prize of $150, and one third prize of $50. The other tickets will win nothing. What is the
expected value of a ticket?
O
- $0.50
O $300.00
O $9.50
O - $9.50

Respuesta :

lolcat

Answer:

negative - $9.50

Step-by-step explanation:

The expected value of a ticket of the local fire company given the price and the expected values is $-9.50.

What is the expected value?

The expected value is the sum of the prizes added to the cost.

Expected value = value of the prizes - cost

(300 + 150 + 50 + 0) - (10 x 1000)

500 - 10,000

- 9500

Expected value of a ticket = - 9500 / 1000 = -9.50

To learn more about addition, please check: https://brainly.com/question/349488

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