A school is holding a fundraising raffle. The first prize is $500, the five second prizes are $100 each, and the ten third prizes are $50 each. A total of 2000 tickets were sold at $5 each.

What is the expected payout per ticket?

Well, it looks like we have a classic case of gambling on our hands! Let's do some math and figure out the expected payout per ticket.

The first prize is $500, the second prizes are $100 each, and the third prizes are $50 each. To find the expected payout per ticket, we need to calculate the total payout and divide it by the number of tickets sold.

The total payout for the first prize is $500.
For the five second prizes, that's $100 each, so $100 * 5 = $500 in total.
And for the ten third prizes, that's $50 each, so $50 * 10 = $500 in total.

So the total payout for all the prizes is $500 + $500 + $500 = $1500.

Now, we need to divide this total payout by the number of tickets sold, which is 2000 tickets.

$1,500 / 2,000 = $0.75

So, the expected payout per ticket is $0.75.

Keep in mind, though, that fundraising raffles are all about supporting a good cause, so whether you win or lose, you'll still be contributing to something great! Good luck!

To find the expected payout per ticket, we need to calculate the total prize money and divide it by the total number of tickets sold.

First prize: $500
Second prizes: 5 * $100 = $500
Third prizes: 10 * $50 = $500

Total prize money: $500 + $500 + $500 = $1500

Total number of tickets sold: 2000

Expected payout per ticket: Total prize money / Total number of tickets sold

Expected payout per ticket = $1500 / 2000 = $0.75 (or 75 cents)

Therefore, the expected payout per ticket in this fundraising raffle is $0.75.

To find the expected payout per ticket, we need to calculate the expected value of the prize for each ticket sold.

First, let's calculate the total prize money to be distributed:

First prize: $500
Second prizes: 5 * $100 = $500
Third prizes: 10 * $50 = $500

Total prize money = $500 + $500 + $500 = $1500

Next, let's calculate the total revenue from ticket sales:

Total tickets sold = 2000
Price per ticket = $5

Total revenue = Total tickets sold * Price per ticket
Total revenue = 2000 * $5 = $10000

To find the expected payout per ticket, we divide the total prize money by the number of tickets sold:

Expected payout per ticket = Total prize money / Total tickets sold
Expected payout per ticket = $1500 / 2000 ≈ $0.75

Therefore, the expected payout per ticket is approximately $0.75.

1/2000 * 500 + 5/2000 * 100 + 10/2000 * 50 - 5 = -17/4

So expect a loss of $4.25