The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 500 tickets. There is one $2,000 grand prize, two $400 second prizes, and fourteen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. S
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 500 tickets. There is one $2,000 grand prize, two $400 second prizes, and fourteen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. S
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter9: Real Numbers And Right Triangles
Section: Chapter Questions
Problem 33CR
Related questions
Question
![The student council is hosting a drawing to raise money
for scholarships. They are selling tickets for $7 each
and will sell 500 tickets. There is one $2,000 grand
prize, two $400 second prizes, and fourteen $10 third
prizes. You just bought a ticket. Find the expected
value for your profit. Round to the nearest cent.
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe42cba8f-3f90-4e07-be95-1d80e9de3217%2F727f50d7-62a4-4383-aea3-53a0a1c32899%2Ftc5hyjs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The student council is hosting a drawing to raise money
for scholarships. They are selling tickets for $7 each
and will sell 500 tickets. There is one $2,000 grand
prize, two $400 second prizes, and fourteen $10 third
prizes. You just bought a ticket. Find the expected
value for your profit. Round to the nearest cent.
$
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