A school is holding a fundraising raffle. The first prize is $500, the three second prizes...
A school is holding a fundraising raffle. The first prize is $500, the three second prizes are $100 each, and the five third prizes are $50 each. A total of 2000 tickets were sold at $5.00 each.
What is the expected payout per ticket?
What price should have been charged to have a 90% profit per ticket?
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A school is holding a fundraising raffle. The first prize is
$500, the three second prizes...
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Eight thousand raffle tickets are sold. One first prize of $1000, two second prizes of $750, and three third prizes of $200 each will be awarded, with al winners selected randomly. If you purchased one ticket, what are your expected gross winnings? The expected gross winnings are cents. (Round your answer to the nearest whole cent) le
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A high school basketball team holds a fund-raiser. It sells 500 raffle tickets for $1 apiece....
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4. (5 points) A raffle awards one $7000.00 prize, two $1000.00 prizes, and four $500.00 prizes....
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Eight thousand raffle tickets are sold. One first prize of $1000, two second prizes of $750, and three third prizes of $200 each will be awarded, with al winners selected randomly. If you purchased one ticket, what are your expected gross winnings? The expected gross winnings are cents. (Round your answer to the nearest whole cent) le
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4. (5 points) A raffle awards one $7000.00 prize, two $1000.00 prizes, and four $500.00 prizes. There are 10000 tickets sold at $3 cach. What is the expected profit a player carns from purchasing a ticket?
John bought one of 200 raffle tickets for $10. The sponsors then randomly select one grand prize worth $200, two second prizes worth $100 each, and three third prizes at $50 each. (a) Verify that this is a probability distribution. (b) Recognizing that John spent $10 to buy a ticket, determine the expected value of this raffle to him.
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