Asked by Ericgeo

# Tickets for a raffle cost $8. There were 703 tickets sold. One...

Tickets for a raffle cost $8. There were 703 tickets sold. One ticket will be randomly selected as the winner, and that person wins $1100 and also the person is given back the cost of the ticket. For someone who buys a ticket, what is the Expected Value (the mean of the distribution)?

If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer rounded to two decimal places.

Expected Value = $

Answered by KidSteel7934

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