A college foundation raises funds by selling 600 raffle tickets for a new car worth $32,000 at ​$100 each. ​(a) Find the expected net winnings of a person buying one of the tickets. ​(b) Find the total profit for the​ foundation, assuming they had to purchase the car. ​(c) Find the total profit for the​ foundation, assuming the car was donated.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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A college foundation raises funds by selling 600 raffle tickets for a new car worth
$32,000
at
​$100
each.
​(a) Find the expected net winnings of a person buying one of the tickets.
​(b) Find the total profit for the​ foundation, assuming they had to purchase the car.
​(c) Find the total profit for the​ foundation, assuming the car was donated.
 
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