Question

The student government is selling raffle tickets to raise money for a school activity. A raffle ticket costs $1. There is 1 winning ticket out of the 2000 tickets sold. The winner gets a prize worth $85. Round your answers to the nearest cent. What is the probability you win if you purchase one raffle ticket? P(win)= What is the expected value (to you) of one raffle ticket? $ Is this a good fundraiser for the student government to earn money for a school activity?

          The student government is selling raffle tickets to raise money for a school activity. A raffle ticket costs $1.
There is 1 winning ticket out of the 2000 tickets sold. The winner gets a prize worth $85. Round your answers
to the nearest cent.
What is the probability you win if you purchase one raffle ticket? P(win)=
What is the expected value (to you) of one raffle ticket? $
Is this a good fundraiser for the student government to earn money for a school activity?

The student government is selling raffle tickets to raise money for a school activity. A raffle ticket costs 1.
There is 1 winning ticket out of the 2000 tickets sold. The winner gets a prize worth85. Round your answers
to the nearest cent.
What is the probability you win if you purchase one raffle ticket? P(win)=
What is the expected value (to you) of one raffle ticket? Is this a good fundraiser for the student government to earn money for a school activity?

Added by Claudia W.

Elementary Statistics a Step by Step Approach

Allan G. Bluman 9th Edition

Instant Answer

Solved by Expert Jonathon Brumley

08/11/2023

Step 1

The probability of winning with one raffle ticket is calculated by dividing the number of winning tickets by the total number of tickets sold. In this case, there is 1 winning ticket out of 2000 tickets sold. Probability of winning = 1/2000 ≈ 0.0005 or 0.05% Show more…

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The student government is selling raffle tickets to raise money for a school activity. A raffle ticket costs $1. There is 1 winning ticket out of the 2000 tickets sold. The winner gets a prize worth $85. Round your answers to the nearest cent. What is the probability you win if you purchase one raffle ticket? win) = What is the expected value (to you) of one raffle ticket? $ Is this a good fundraiser for the student government to earn money for a school activity? The student government is selling raffle tickets to raise money for a school activity.A raffle ticket costs S1 There is 1 winning ticket out of the 2000 tickets sold.The winner gets a prize worth S85.Round your answers to thenearest cent. What is the probability you win if you purchase one raffle ticket? P(win)= What is the expected value (to you) of one raffle ticket?$ Is this a good fundraiser for the student government to earn money for a school activity?