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.
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
Section: Chapter Questions
Problem 1RQ
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Question
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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