1) The local fire company is having a raffle to raise money for Fourth of July fireworks. They
will sell one thousand tickets at $10 each. They will award one first prize of $300, one second
prize of $150, and one third prize of $50. The other tickets will win nothing. What is the
expected value of a ticket?
O
- $0.50
O $300.00
O $9.50
O - $9.50
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