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The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 500 tickets. There

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The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 500 tickets. There is one $2,000 grand prize, three $300 second prizes, and thirteen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. Hint: Hint Video on Expected Value [ [+] Submit

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