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

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.6: Percent Applications
Problem 40E
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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.
Transcribed Image Text: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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