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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?

  • stats math -

    166.66 or 167
    500/3= 166.666666666667

  • stats math -

    34

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