Business, 03.08.2021 23:00 YRNlightskin3360
The Math Is Cool club is having a raffle. There is one First Prize of $150 and 5 Honorable Mention prizes of $45 each. Tickets will cost $2.50 each and they plan to sell 2500 tickets. Use this information to answer the questions below. Round decimal answers to 2 decimal places.
a. What is the expected value of this raffle?
b. Suppose you buy 6 tickets. How much money can you expect to win/lose with your 6 tickets?
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The Math Is Cool club is having a raffle. There is one First Prize of $150 and 5 Honorable Mention p...
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