A charity is holding a raffle to raise money. There is one car worth $30,000 and five $100 gift cards being raffled off. Each ticket costs $20, and there are a total of 5,000 tickets being sold. Which equation correctly depicts the calculation of the expected value for a ticket?

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Rowan Davies

Mathematics

20 February, 22:55

A charity is holding a raffle to raise money. There is one car worth $30,000 and five $100 gift cards being raffled off. Each ticket costs $20, and there are a total of 5,000 tickets being sold. Which equation correctly depicts the calculation of the expected value for a ticket?

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Jordon Farmer · Answer 1

A charity is holding a raffle to raise money. There is one car worth $30,000 and five $100 gift cards being raffled off. Each ticket costs $20, and there are a total of 5,000 tickets being sold. Which equation correctly depicts the calculation of the expected value for a ticket?

A: the answer is 29,980 (1/5000) + 80 (1/1000) + (-20) (2497/2500) = E (x)