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The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $6 each and will sell 500 tickets. There
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $6 each and will sell 500 tickets. There is one $3,000 grand prize, four $500 second prizes, and fourteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
please show all work I am very confused on this question.
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