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Your youth group is selling 2000 raffle tickets for $10 each. There will be one winner of $2000 and 3 winners of $500. What is the expected payoff of each ticket

Respuesta :

Answer:

$8.25 payoff per ticket

Step-by-step explanation:

2000 (tickets) x $10 = $20,000 they made selling them

$2000 + ($500 x 3) = $3500

$20,000 (money made) - $3500 (prize cost) = $16500

$16500 / 2000 = 8.25

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