00:01
In this question, we have to find the expected value of selling a raffle ticket here.
00:05
So first of all, the each ticket, so the price for the each ticket, that was given as $2.
00:13
And the number of tickets sold here, which is 3 ,000.
00:20
So first of all, let me find the total number of revenue here.
00:25
So the total amount, revenue, which is 2 times 3 ,000, which would be, this is 6 ,000.
00:36
This is the revenue here.
00:37
And what about the prices? so the first price, which is 2 ,500.
00:43
And the second price, which is $500...