asked 78.7k views
4 votes
At a carnival, there is a raffle with 200 tickets. One ticket will win a $210 prize, one ticket will win a $150 prize, one ticket will win a $120 prize, one ticket will win a $110 prize, and the remaining tickets will win nothing. If you have a ticket, what is the expected payoff?

asked
User ITux
by
8.3k points

1 Answer

6 votes

We get that the expected value is:


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