166.66 or 167
500/3= 166.666666666667
Suppose you are selling raffle tickets for $3.00 each. You have the following prizes.1 grand prize of $150
1 prize of $75
1 prize of $50
1 prize of $25
5 prizes of $10 each
A total of 500 raffle tickets are sold. What is the expected value of each ticket?
2 answers
34
2 answers