8.5.39 Question Help Five thousand tickets are sold at $1 each for a charity raffle. Tickets are to be drawn at random and monetary prizes awarded as follows: 1 prize of $800, 3 prizes of $200, 5 prizes of $50, and 20 prizes of $5. What is the expected value of this raffle if you buy 1 ticket? Let X be the random variable for the amount won on a single raffle ticket. dollars (Round to the nearest cent as needed.) E(X)

A First Course in Probability (10th Edition)
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Five thousand tickets are sold at $1 each for a charity raffle. Tickets are to be drawn at random and monetary prizes awarded as follows: 1 prize of $800, 3 prizes of
$200, 5 prizes of $50, and 20 prizes of $5. What is the expected value of this raffle if you buy 1 ticket?
Let X be the random variable for the amount won on a single raffle ticket.
dollars (Round to the nearest cent as needed.)
E(X)
Transcribed Image Text:8.5.39 Question Help Five thousand tickets are sold at $1 each for a charity raffle. Tickets are to be drawn at random and monetary prizes awarded as follows: 1 prize of $800, 3 prizes of $200, 5 prizes of $50, and 20 prizes of $5. What is the expected value of this raffle if you buy 1 ticket? Let X be the random variable for the amount won on a single raffle ticket. dollars (Round to the nearest cent as needed.) E(X)
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