Solution-Find the expected value for profit

Find the expected value for profit

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The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 900 tickets. There is one $2,000 grand prize, three $300 second prizes, and thirteen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.

Reference no: EM133266059

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Find the expected value for profit

Reference no: EM133266059

Reference no: EM133266059

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