SOLUTION: A charity organization hosts a raffle drawing at a fund raising event. The organization sells 4000 tickets at a price of $4 each. Winning tickets are randomly selected, with 40
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Question 1197076: A charity organization hosts a raffle drawing at a fund raising event. The organization sells 4000 tickets at a price of $4 each. Winning tickets are randomly selected, with 40 prizes of $50, 15 prizes of $400, and 1 grand prize of $2000.
Suppose you buy one ticket. Let the random variable X represent your net gain from playing the game once (remember that the net gain should include the cost of the ticket)
