SOLUTION: A college foundation raises funds by selling raffle tickets for a car worth $36,000. Given that 720 tickets are sold for $120 each. Find the expected net winnings to five decimal

Question 674669: A college foundation raises funds by selling raffle tickets for a car worth $36,000. Given that 720 tickets are sold for $120 each. Find the expected net winnings to five decimal places, of a person buying one of the tickets.
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!

 

Hi

expected net winnings 

 = -$70

Profit to the college foundation is  = $50,400 

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