Business, 05.05.2020 04:23, hootie31

Use the following statement to answer parts a) and b). Five hundred raffle tickets are sold for $3 each. One prize of $100 is to be awarded. Winners do not have their ticket costs of $3 refunded to them. Raul purchases one ticket. a) Determine his expected value. b) Determine the fair price of a ticket. a) His expected value is $ nothing. (Type an integer or a decimal.)

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Use the following statement to answer parts a) and b). Five hundred raffle tickets are sold for $3 e...