The Phi Theta Kappa honor society is holding a raffle to raise funds for a service project. They are selling raffle tickets for $5 each and the prizes are as follows: A Thanksgiving dinner for four valued at $120, four pumpkin pies from the culinary school valued at $25 each, and ten turkey sandwiches for the Monday after break, valued at $6 each. PTK ends up selling 122 tickets total. If someone gives you one of those 122 tickets without your having to pay for it, what is the expected value of the ticket? Round to the nearest cent.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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The Phi Theta Kappa honor society is holding a raffle to raise funds for a service project. They are selling raffle tickets for $5 each and the prizes are as follows: A Thanksgiving dinner for four valued at $120, four pumpkin pies from the culinary school valued at $25 each, and ten turkey sandwiches for the Monday after break, valued at $6 each. PTK ends up selling 122 tickets total.

If someone gives you one of those 122 tickets without your having to pay for it, what is the expected value of the ticket? Round to the nearest cent.

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