## mvandi Group Title A raffle ticket costs $10. 10 tickets net$500 and one ticket nets $2,000. The expected value of a ticket is$5. How many tickets were sold? one year ago one year ago

1. satellite73

$\frac{10\times 500+2000-10\times n}{n}=5$ solve for $$n$$

2. satellite73

i hope it is clear how to solve the expected value is the amount you get times the probability you get it, added up i.e. the average payoff over all the tickets

3. mvandi

Thanks!