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An auction house sells raffle tickets for $1. There are 10 prizes, each worth $10. If 100 raffle tickets are sold, what is the expected value of each ticket? $0 $1 -$1 $10

An auction house sells raffle tickets for $1. There are 10 prizes, each worth $10. If 100 raffle tickets are sold, what is the expected value of each ticket? $0 $1 -$1 $10
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1 vote
An auction house sells raffle tickets for $1. There are 10 prizes, each worth $10. If 100 raffle tickets are sold, what is the expected value of each ticket?

$0
$1
-$1
$10

asked
User Nike Kov
by
7.3k points

1 Answer

3 votes

Answer: $1

Step-by-step explanation: (10 x 10) / 100 = 1

answered
User Sandwell
by
7.1k points
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