The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 700 tickets. There is one $3,000 grand prize, three $400 second prizes, and sixteen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. %24

The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 700 tickets. There is one $3,000 grand prize, three $400 second prizes, and sixteen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. %24

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter7: Applying Fractions

Section7.6: Percents Problems

Problem 9ST

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Question

The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10
each and will sell 700 tickets. There is one $3,000 grand prize, three $400 second prizes, and sixteen $30
third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.

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