A school is holding a Fixed Raffle where only a certain numb

A school is holding a Fixed Raffle, where only a certain number of raffle tickets can be sold. The school sold 120 of these tickets for $5 each.One of the tickets will win $720.00, two tickets will win $240.00, and 5 tickets will win $120.00.

What is the expected value of each of these tickets for the people that purchase one ticket? $--------------

Round to the nearest penny and if the value is negative, put that into the box also.

Consider the table:

Thus,

E(x) = $10.00 [ANSWER]

x (Profit)	P(x)	x P(x)
-5	0.933333	-4.66667
715	0.008333	5.958333
235	0.016667	3.916667
115	0.041667	4.791667

A school is holding a Fixed Raffle, where only a certain number of raffle tickets can be sold. The school sold 120 of these tickets for $5 each.One of the ticke

A school is holding a Fixed Raffle where only a certain numb

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