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May 24, 2015

Homework Help: stats math

Posted by denise on Monday, November 26, 2012 at 9:33pm.

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?

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