Question
Tickets for a raffle cost $16. There were 728 tickets sold. One ticket will be randomly selected as the winner, and that person wins $1900
Tickets for a raffle cost $16. There were 728 tickets sold. One ticket will be randomly selected as the winner, and that person wins $1900 and also the person is given back the cost of the ticket. For someone who buys a ticket, what is the Expected Value (the mean of the distribution)?
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Transportation A Global Supply Chain Perspective
Authors: John J. Coyle, Robert A. Novak, Brian Gibson, Edward J. Bard
8th edition
978-1133592969
