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?

## Answer this Question

## Related Questions

- Math/Probability/Statistics - Find the expected value and the standard deviation...
- stats math - Suppose you are selling raffle tickets for $3.00 each. You have the...
- statistics - 1000 raffle tickets are sold and the winner is chosen at random ...
- stat - 200 tickets are sold to a raffle. It costs $5 to buy a ticket. There is ...
- Statistic - 200 tickets are sold to a raffle. It costs $5 to buy a ticket. ...
- Math - 200 tickets are sold to a raffle. It costs $5 to buy a ticket. There is ...
- math problem - In a raffle 1000 tickets are being sold at $1.00 each. the first ...
- math - 100 raffle tickets are sold for 3 dollars each. One prize of 200 is to ...
- statistics - A lottery offers one $10000 prize, one $5000 prize and five $1000 ...
- Math - it cost $2 to buy a raffle ticket. if there are 500 tickets sold, and ...

More Related Questions