2000 raffle tickets were sold for $4 each and one prize $1000 and 6 prizes of $400 each are to be awarded to winners. If Tom buys one ticket, what is the expected value of his winnings. Round your answer to the nearest cent (two decimal places)
2000 raffle tickets were sold for $4 each and one prize $1000 and 6 prizes of $400 each are to be awarded to winners. If Tom buys one ticket, what is the expected value of his winnings. Round your answer to the nearest cent (two decimal places)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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2000 raffle tickets were sold for $4 each and one prize $1000 and 6 prizes of $400 each are to be awarded to winners.
If Tom buys one ticket, what is the
Round your answer to the nearest cent (two decimal places)
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