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8.5.43 Question Help One thousand raffle tickets are sold at $1 each. Three tickets will be drawn at random (without replacement), and each will pay
8.5.43 Question Help One thousand raffle tickets are sold at $1 each. Three tickets will be drawn at random (without replacement), and each will pay $205. Suppose you buy 5 tickets. (A) Create a payoff table for 0, 1, 2, and 3 winning tickets among the 5 tickets you purchased. (If you do not have any winning tickets, you lose $5, if you have 1 winning ticket, you net $200 since your initial $5 will not be returned to you, and so on.) (B) What is the expected value of the raffle to you? (A) Let X be the random variable for the amount won on a single raffle ticket. Create a payoff table for 0, 1, 2, and 3 winning tickets among the 5 tickets you purchased. x - $5 $200 $405 $610 Pi O O O O (Type an integer or decimal rounded to eight decimal places as needed.)
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