Asked by Mario
1000 tickets for prizes are sold for $2 each. Seven prizes will be awarded – one for $400, one for $200, and five for $50. Steven purchases one of the tickets.
a) Find the expected value
b) Find the fair price of the ticket.
The expected value= 950/2000
a) Find the expected value
b) Find the fair price of the ticket.
The expected value= 950/2000
Answers
Answered by
Anonymous
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