February 20, 2017

Homework Help: Statistics

Posted by Patty on Sunday, July 28, 2013 at 10:38pm.

There is a $2 raffle with a first prize of $10000, a second prize of $500, and a 3rd prize of $100. If 1000 tickets are sold find the expected value. How much should the raffle ticket cost to make this a fair game?

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