document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=468990>Question 468990</A>: <I><SPAN STYLE=\"word-break: break-all;\"> a rotary club is holding a charity fundraise to bolster its college scholarship fund. The club is selling 2000 raffle tickets for $10 each. to keep the problem simple, assume a ticket can win more than on prize. the prizes are as follows<BR>\n" );
document.write( "1-first prize valued at $5000<BR>\n" );
document.write( "4-second prizes valued at $500<BR>\n" );
document.write( "10-third prizes valed at $100<BR>\n" );
document.write( "compute the expected vlue for a player purchsing a single ticket </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #321763 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=321763\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> a rotary club is holding a charity fundraise to bolster its college scholarship fund. The club is selling 2000 raffle tickets for $10 each. to keep the problem simple, assume a ticket can win more than on prize. the prizes are as follows<BR>\n" );
document.write( "1-first prize valued at $5000<BR>\n" );
document.write( "4-second prizes valued at $500<BR>\n" );
document.write( "10-third prizes valed at $100<BR>\n" );
document.write( "compute the expected vlue for a player purchsing a single ticket<BR>\n" );
document.write( "---<BR>\n" );
document.write( "Random \"gain\" values: 4990,490,90,-10<BR>\n" );
document.write( "---<BR>\n" );
document.write( "Corresponding probabiities: 1/2000 on each drawing for prizes.<BR>\n" );
document.write( "Expected \"gain\" = (1/2000)(4990+490+90)-(1997/2000)(10) <BR>\n" );
document.write( "= (5570-19970)/2000<BR>\n" );
document.write( "---<BR>\n" );
document.write( "= -$7.20<BR>\n" );
document.write( "========================================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "===============<BR>\n" );
document.write( "---- </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );