A raffle offers a first prize of $1000, 2 second prizes of $300, and 20 third prizes of $10 each. If 8000 tickets are sold at 50 cents each, find the expected winnings for a person buying 1 ticket. What are the expected winnings? cents (Round your answer to the nearest whole cent.)

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section: Chapter Questions
Problem 10PTTS
icon
Related questions
Topic Video
Question
A raffle offers a first prize of $1000, 2 second prizes of $300, and 20 third prizes of $10 each. If 8000 tickets are sold at 50 cents each, find the expected winnings for a person buying 1 ticket.
What are the expected winnings?
cents
(Round your answer to the nearest whole cent.)
Transcribed Image Text:A raffle offers a first prize of $1000, 2 second prizes of $300, and 20 third prizes of $10 each. If 8000 tickets are sold at 50 cents each, find the expected winnings for a person buying 1 ticket. What are the expected winnings? cents (Round your answer to the nearest whole cent.)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Discrete Probability Distributions
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning