document.write( "Question 1168407: The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $8 each and will sell 900 tickets. There is one $3,000 grand prize, three $300 second prizes, and fourteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. \n" ); document.write( "

Algebra.Com's Answer #851168 by ikleyn(52781) $\"\"$ $\"About$

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\n" ); document.write( "The student council is hosting a drawing to raise money for scholarships.
\n" ); document.write( "They are selling tickets for $8 each and will sell 900 tickets.
\n" ); document.write( "There is one $3,000 grand prize, three $300 second prizes, and fourteen $40 third prizes.
\n" ); document.write( "You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
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document.write( "The expected value of the profit is\r\n" );
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document.write( "    E =  = -3.04  dollars.    ANSWER\r\n" );
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\n" ); document.write( "\n" ); document.write( "Solved.\r
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\n" ); document.write( "\n" ); document.write( "The formula is self-explanatory: its meaning is OBVIOUS. \r
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