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

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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) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi

expected net winnings 

%2836000-120%29%2F720+-+719%2A120%2F720 = -$70

Profit to the college foundation is 70%2A720 = $50,400