Tickets for a raffle cost $19. There were 713 tickets sold. One ticket will be randomly selected as the winner, and that person wins $1100 and also the person is given back the cost of the ticket. For
someone who buys a ticket, what is the Expected Value (the mean of the distribution)?
If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer
rounded to two decimal places.
Expected Value = $

x ≥ 18 is your answer

step-by-step explanation:

let "a number" = x

(2/3)x + 17 ≥ 29

isolate the variable (x). do the opposite of pemdas (parenthesis, exponent (& root), multiplication, division, addition, subtraction).

first, subtract 17 from both sides.

(2/3)x + 17 (-17) ≥ 29 (-17)

(2/3)x ≥ 29 - 17

(2/3)x ≥ 12

next, multiply 3/2 to both sides to isolate the x

(3/2)(2/3)x ≥ 12(3/2)

x ≥ 12(3/2)

simplify. multiply, then divide

x ≥ (12 * 3)/2

x ≥ (36)/2

x ≥ 18

x ≥ 18 is your answer

~

step-by-step explanation: