carlchang5631 carlchang5631

30-04-2024
Mathematics

Answered

A charity sells 1,000 raffle tickets for $2 each. There is one grand prize of $500, two prizes of $100 each,and ten prizes of $20 each. Complete the table and calculate the expected value of the winnings of someone who buys a ticket in this lottery. What does the expected value mean?

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