Question
Celso entered a $3 raffle for a chance to win a prize. Of the 360tickets sold, there is 1 ticket that pays $125, 2 tickets
Celso entered a $3 raffle for a chance to win a prize. Of the 360tickets sold, there is 1 ticket that pays $125, 2 tickets that pay $75, and 5 tickets that pay $20.
Considering Celso's cost to participate, what is the expected value of his "investment" in the raffle ticket?
a. -$1.96
b. -$1.04
c. -$2.39
d. -$2.83
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Multiple Time Scale Dynamics
Authors: Christian Kuehn
1st Edition
3319123165, 9783319123165
