Mathematics, 10.10.2020 20:01 patricklcc07777
Find the expected value of the probability distribution. Interpret this in the
context of the situation.
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A charity organization is selling $4 raffle tickets as part of a fundraising
program. The first prize is a boat valued at $3150, and the second prize is a
tent valued at $450. The remaining 15 prizes are $25 gift cards. The number
of tickets sold is 5000.
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Find the expected value of the probability distribution. Interpret this in the
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