Mathematics, 20.05.2021 21:50 dawsoncollins4117

600 raffle tickets were sold for $5 each. There is one $500 first prize and three $200 second prizes. The remainder of the tickets do not win anything. What is the expected value of this raffle?

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600 raffle tickets were sold for $5 each. There is one $500 first prize and three $200 second prizes...

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600 raffle tickets were sold for $5 each. There is one $500 first prize and three $200 second prizes. The remainder of the tickets do not win anything. What is the expected value of this raffle?​

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Another question on Mathematics

600 raffle tickets were sold for $5 each. There is one $500 first prize and three $200 second prizes. The remainder of the tickets do not win anything. What is the expected value of this raffle?