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An individual pays $6 to enter a raffle drawing. There is a 1st place prize of...

An individual pays $6 to enter a raffle drawing. There is a 1st place prize of $750, a 2nd place prize of $500, a 3rd place prize of $350, and a 4th place prize of $200. In total, one 1st place prize is won, four 2nd place prizes are won, eight 3rd place prizes are won, and twelve 4th place prizes are won. If 2300 people enter the raffle drawing, find the expected value when you play this raffle drawing. Show your work to receive credit.

Math   Statistics-And-Probability   
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