Question

Four hundred raffle tickets were sold for $4 each. The one first prize winner will receive $300, and two people will each receive second prizes of $200. There will be three $100 winners. What will be the expected value of the raffle?

Answer 1

Answer:

The expected value of the raffle will be $1000 and the money obtained from selling tickets will be(4x400=$1600).

Step-by-step explanation:

First prize: $300

Second prize: 200x2=$400

3x100=$300

300+400+300

=$1000

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Answer 2

The expected value of the raffle will be $1000 and the money obtained from selling tickets would be equal to $1600.

What is a linear equation?

A linear equation is an equation that has the variable of the highest power of 1. The standard form of a linear equation is of the form Ax + B = 0.

400 raffle tickets were sold for $4 each.

The one first prize winner will receive $300, and two people will each receive a second prize of $200.

There will be three $100 winners.

First prize = $300

Second prize = 200 x 2

=$400

So, the expected gross​ winnings:

3x100=$300

300+400+300

=$1000

Learn more about linear equations;

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