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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 = $
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Answered by KidSteel7934
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