A local community center plans to raise money by raffling a $500 gift card. A total of 3000 tickets are sold at $1 each. Find the expected value of the winnings for a person who buys a ticket in the raffle.

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A local community center plans to raise money by raffling a $500 gift card. A total of 3000 tickets are sold at $1 each. Find the expected value of the winnings for a person who…

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