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The student council is hosting a drawing to raise money for scholarships. They are selling tickets...

The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $8 each and will sell 600 tickets. There is one $1,000 grand prize, two $500 second prizes, and fifteen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.

Math   Statistics-And-Probability   
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