Tickets for a raffle cost $18. There were 660 tickets sold. One ticket will be randomly selected as the winner, and that person wins $1700 and also the person is given back the cost of the ticket. For someone who buys a ticket, what is the Expected Value (the mean of the distribution)? If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer rounded to two decimal places. Expected Value = $
Tickets for a raffle cost $18. There were 660 tickets sold. One ticket will be randomly selected as the winner, and that person wins $1700 and also the person is given back the cost of the ticket. For someone who buys a ticket, what is the Expected Value (the mean of the distribution)? If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer rounded to two decimal places. Expected Value = $
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Transcribed Image Text:Tickets for a raffle cost $18. There were 660
tickets sold. One ticket will be randomly selected
as the winner, and that person wins $1700 and
also the person is given back the cost of the
ticket. For someone who buys a ticket, what is the
Expected Value (the mean of the distribution)?
If the Expected Value is negative, be sure to
include the "-" sign with the answer. Express the
answer rounded to two decimal places.
Expected Value = $
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