document.write( "Question 978491: A church raffle will be held during the Columbus Day weekend festival. 1000 Tickets will be sold at $10 each. One first prize of $3000 will be awarded, along with two second-place prizes of $1000 each. Assume all 1000 tickets will be sold and you purchase one ticket. What are your expected winnings? \n" ); document.write( "
| Algebra.Com's Answer #599935 by solver91311(24713)     You can put this solution on YOUR website! \r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "You have a 1/1000 chance of winning 3K for an expected payout of $3, plus a 2/1000 chance of winning 1K for an expected payout of $2, minus the 10 bucks you paid for the ticket for an overall expected result of -$5.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "John \n" ); document.write( " \n" ); document.write( "My calculator said it, I believe it, that settles it\r \n" ); document.write( "\n" ); document.write( " |