The island club... ten thousand tickets sold for $2 each... first prize of $3000, 3 second prizes of $1000 each, 5 third prizes of $500 each, and 20 consolation of $100 each. Find the expected value.
Is it found through
(1/10k) * (3000) + (3/10k) * (1000) + (5/10k) *(500) + (20/10k) * (100)?
1 answer
yes