Question

Please help! Correct answer only!

Out of 250 tickets in a raffle, one ticket will win a $190 prize, one ticket will win a $120 prize, one ticket will win a $90 prize, and one ticket will win a $50 prize. The rest will win nothing. If you have a ticket, what is the expected payoff?


$____

Answer 1

$1.80

Explanation:

(190+120+90+50)/250= a total expected payoff of 1.8 dollars. Hope this helps!