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A school club is organizing a fundraising campaign by selling raffle tickets. There are 1000 tickets being sold at Php50 each and the prizes at stake are, a laptop worth Php35,000, a mobile cellphone worth Php10,000, and a cash prize of Php5,000. You buy 1ticket. What is the expected value of your gain? Note: Do not include the currency symbol for your answer. Blank 1 If the raffle ticket costs Php60, what is the expected value of your gain? Note: Do not include the currency symbol for your answer. Blank 2 Which ticket price is fair? (50 or 60) Blank 3

A school club is organizing a fundraising campaign by selling raffle tickets. There are 1000 tickets being sold at Php50 each and the prizes at stake are, a laptop worth Php35,000, a mobile cellphone worth Php10,000, and a cash prize of Php5,000. You buy 1ticket. What is the expected value of your gain? Note: Do not include the currency symbol for your answer. Blank 1 If the raffle ticket costs Php60, what is the expected value of your gain? Note: Do not include the currency symbol for your answer. Blank 2 Which ticket price is fair? (50 or 60) Blank 3

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A school club is organizing a fundraising campaign by selling raffle tickets. There are 1000 tickets being sold at Php50 each and the prizes at stake are, a laptop worth Php35,000, a mobile cellphone worth Php10,000, and a cash prize of Php5,000. You buy 1ticket. What is the expected value of your gain? Note: Do not include the currency symbol for your answer. Blank 1 If the raffle ticket costs Php60, what is the expected value of your gain? Note: Do not include the currency symbol for your answer. Blank 2 Which ticket price is fair? (50 or 60) Blank 3
Transcribed Image Text:A school club is organizing a fundraising campaign by selling raffle tickets. There are 1000 tickets being sold at Php50 each and the prizes at stake are, a laptop worth Php35,000, a mobile cellphone worth Php10,000, and a cash prize of Php5,000. You buy 1ticket. What is the expected value of your gain? Note: Do not include the currency symbol for your answer. Blank 1 If the raffle ticket costs Php60, what is the expected value of your gain? Note: Do not include the currency symbol for your answer. Blank 2 Which ticket price is fair? (50 or 60) Blank 3
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