document.write( "Question 1119354: You buy a raffle ticket that cost you $5. There are 200 total tickets sold for this raffle. If your ticket is drawn first, you win the grand prize of $500. If your ticket is drawn 2nd you win $50, and if your ticket is drawn 3rd you win $10. What is your expected \"winnings\" for this raffle? \n" ); document.write( "
Algebra.Com's Answer #734876 by Boreal(15235)![]() ![]() You can put this solution on YOUR website! E(X)=+500(1/200) x*P(x)+(199/200)(1/199)(50)+(199/200)(198/199)(1/198)(10)-5, the cost of the ticket \n" ); document.write( "=$2.50+$0.25+$0.05-5=minus $2.20. \n" ); document.write( " |