Five thousand tickets are sold at $1 each for a charity raffle. Tickets are to be drawn at random and monetary prizes awarded as follows: 1 prize of $ 500 500, 3 prizes of $ 200 200, 5 prizes of $ 10 10, and 20 prizes of $5. What is the expected value of this raffle if you buy 1 ticket?

The expected value of this raffle per ticket is $ 0.25.

Given that five thousand tickets are sold at $ 1 each for a charity raffle, and tickets are to be drawn at random and monetary prizes awarded as follows: 1 prize of $ 500, 3 prizes of $ 200, 5 prizes of $ 10, and 20 prizes of $ 5, to determine what is the expected value of this raffle if you buy 1 ticket, the following calculation must be performed:

Therefore, the expected value of this raffle per ticket is $ 0.25.

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-$0.75

Step-by-step explanation:

For calculation of expected value first we need to find out the probability distribution for this raffle which is shown below:-

Amount                  Probability

500 - 1 = $499       1 ÷ 5,000

200 - 1 = $199        3 ÷ 5,000

10 - 1 = $9                5 ÷ 5,000

5 - 1 = $4                   20 ÷ 5,000

-$1                             5,000 - 29 ÷ 5,000 = 4,971 ÷ 5,000

Now, the expected value of raffle will be

= 0.0998  + 0.1194  + 0.009  + 0.016  - 0.9942

= -$0.75

im alright what do you need

step-by-step explanation:

answer: all of the odd numbers were opened

the first person was the one that was opening all of the lockers. since one is odd, this causes all of the odd number lockers to be opened in the end.