The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 800 tickets. There is one $2,000 grand prize, three $300 second prizes, and fourteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. Hint: Hint Video on Expected Value [+] Submit Question

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each
and will sell 800 tickets. There is one $2,000 grand prize, three $300 second prizes, and fourteen $40 third
prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
Hint:
Hint
Video on Expected Value [+]
Submit Question
habits-gndlPAI 7-
17.249
NOV
tv
18
MacBook Air
%24
Transcribed Image Text:The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 800 tickets. There is one $2,000 grand prize, three $300 second prizes, and fourteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. Hint: Hint Video on Expected Value [+] Submit Question habits-gndlPAI 7- 17.249 NOV tv 18 MacBook Air %24
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