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3 A charity organization is selling $4 raffle tickets as part of a fund-raising program. The first prize is a $3150 boat. The second prize

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3 A charity organization is selling $4 raffle tickets as part of a fund-raising program. The first prize is a $3150 boat. The second prize is a $450 camping tent. The rest of the prizes are 15 $25 gift certificates. They sold 5000 tickets. Find the expected value of the gain of the charity organization. Win boat Win tent Win $25 Lose gift cert Profit, x P(x) 4. A cash prize of $5000 is to be awarded. If 2500 tickets are sold at $5 each, find the expected gain. Win Lose Profit, x P(x)

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