Answer: -$3.00
Step-by-step explanation:(1/100)(200-5)-(99/100)5= -$3.00/ticket
I really hope this helps. So sorry if it doesn't
Answer:
Expected value of the purchase of a ticket would be $3.00.
Step-by-step explanation:
The PTA is holding a raffle. Each raffle ticket costs $5.00.
The prize is a camera worth $200.
One hundred tickets are sold = 100 × 5 = $500.00
winner is drawn and given the prize of worth $200.
$500 - $200 = $300
So the expected value of the purchased ticket = [tex]\frac{300}{100}[/tex] = $3.00
Expected value of the purchase of a ticket would be $3.00.
