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What is your expected value for this raffle

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Question - A raffle is being held at a benefit concert. The prizes are awarded as follows: 1 grand prize of $9,000, 2 prizes of, $870 a prize of $63, and 12 prizes of $25. Suppose 17500 raffle tickets are sold, if you buy one ticket for $3 then what is your expected value for this raffle?

Reference no: EM132946435

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