Question 1055080: A major non-profit company is having a fundraiser by selling tickets. The grand prize is $8,000; 8 second prizes each pay $800; and 88 third prizes each pay $80. What is the expectation of this sweepstakes, if there are 5,000 tickets sold?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A major non-profit company is having a fundraiser by selling tickets. The grand prize is $8,000; 8 second prizes each pay $800; and 88 third prizes each pay $80. What is the expectation of this sweepstakes, if there are 5,000 tickets sold?
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What is the price of a ticket?
Cheers,
Stan H.
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