Question

6) One thousand tickets are sold at $1 each. One ticket will be randomly selected and the winner will

receive a color television valued at $398. What is the expected value for a person that buys one
ticket?
A) $0.60
B) $.40
C) -$0.60
D) -$1.00

Answer 1

The answer would be -$0.60

Explanation:

I just checked with my friend and we both got the same answer.