A raffle sells 1,324 tickets. There is 1 grand prize which is $1000, but there are 10 smaller prizes of $25 each. What is the expected value of a raffle ticket if the tickets sell for $10 each. Fill in the missing values on the probability distribution below Prize Probability 1/1324 1313/1324 0 10/1324 1315/1324 1000 1/1324 25 10/1324 0 ???

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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Chapter1: Starting With Matlab
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answer the questions in the picture please.

A raffle sells 1,324 tickets. There is 1 grand prize which is $1000, but there are 10 smaller prizes of
$25 each. What is the expected value of a raffle ticket if the tickets sell for $10 each.
Fill in the missing values on the probability distribution below
Prize
Probability
1/1324
1313/1324
10/1324
1315/1324
1000
1/1324
25
10/1324
0
???
Transcribed Image Text:A raffle sells 1,324 tickets. There is 1 grand prize which is $1000, but there are 10 smaller prizes of $25 each. What is the expected value of a raffle ticket if the tickets sell for $10 each. Fill in the missing values on the probability distribution below Prize Probability 1/1324 1313/1324 10/1324 1315/1324 1000 1/1324 25 10/1324 0 ???
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