Mathematics
Mathematics, 25.03.2021 20:30, moningersavannah

Suppose 1,250 raffle tickets are being sold for $5 each. One ticket will be chosen to receive a cash prize of $2,500, and three tickets will be chosen to receive cash prizes of $500. Let x be the amount of money won/lost by purchasing one raffle ticket. Find the expected value for x. (Round your answer to the nearest penny. Do not include a $ sign in your answer. Your answer may be positive or negative.)

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Suppose 1,250 raffle tickets are being sold for $5 each. One ticket will be chosen to receive a cash...

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