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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
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

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satellite73Best ResponseYou've already chosen the best response.1
\[\frac{10\times 500+200010\times n}{n}=5\] solve for \(n\)
 one year ago

satellite73Best ResponseYou've already chosen the best response.1
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
 one year ago
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