The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 900 tickets. There is one $1,000 grand prize, three $300 second prizes, and twelve $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.

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09-06-2024
Mathematics

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The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 900 tickets. There is one $1,000 grand prize, three $300 second prizes, and twelve $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.

Sagot :

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