In order to raise money for a local senior citizen's home, the town council of Smallville decides to hold a charity raffle. There is one grand prize of $2,000 and 20 additional prizes of $400 each. If...


In order to raise money for a local senior citizen's home, the town council of Smallville decides to hold a charity raffle.  There is one grand prize of $2,000 and 20 additional prizes of $400 each.  If 1,000 tickets will be sold, and tickets sell for $15


A: The expected value of winnings is_____ (write answer as $x.xx or -$x.xx)


B: Should you play?     Yes or No



Jun 09, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here