Tickets for a raffle cost $$20. There were 740 tickets sold. One
ticket will be randomly selected as the winner, and that person
wins $$1600 and also the person is given back the cost of the
ticket. For someone who buys a ticket, what is the Expected Value
(the mean of the distribution)?
If the Expected Value is negative, be sure to include the "-" sign
with the answer. Express the answer rounded to two decimal
places.
Get Answers For Free
Most questions answered within 1 hours.