Mathematics, 02.10.2021 17:20 alyssanewsome

A charity is selling 500 raffle tickets. One lucky person will win the grand prize of a Hawaiian vacation valued at $7,000. Three (3) people will each win a free health club membership valued at $100. Ten (10) people will each win a $25 gasoline card.

Calculate the expected winnings. Show work

How much should the charity charge to buy a raffle ticket? Explain in words & what is the expected value ?

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