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Zeke is buying prizes for a game at his club’s fundraising event. The game has prizes...

Zeke is buying prizes for a game at his club’s fundraising event. The game has prizes for first, second and third place. Tickets for the game cost $5 each, and Zeke wants the club to profit an average of $1 per ticket. How much should Zeke spend on each first prize given the following information?

Prize

Cost of Prize

Probability of Winning Prize

1st

?

.10

2nd

$2

.35

3rd

$1

.40
math   Statistics-And-Probability   
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