Mathematics, 22.07.2020 14:01, lin550

Five thousand tickets are sold atâ $1 each for a charity raffle. tickets are to be drawn at random and monetary prizes awarded asâ follows: 1 prize of â$500â, 3 prizes of â$300â, 5 prizes of â$30â, and 20 prizes ofâ $5. what is the expected value of this raffle if you buy 1â ticket?

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Five thousand tickets are sold atâ $1 each for a charity raffle. tickets are to be drawn at random a...