In a raffle 1000 tickets are being sold at $1.00 each. the first prize is $100, and there are 3 second prizes of $50 each. by how much does the price of a ticket exceed its expected value?
2 answers
Omggggg
(-1)(.999)+(99)(.001)+(49)(1/999)+(49)(1/998)+(49)(1/997)=-.75