D Question 3 2 pts 200 lottery tickets are sold for $4 each. The person with the
ID: 2907773 • Letter: D
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D Question 3 2 pts 200 lottery tickets are sold for $4 each. The person with the single winning ticket will get $71. What is the expected value for a ticket in this lottery? State your answer in terms of dollars rounded to the nearest cent, but do not include a $ sign in your response. NOTE: Canvas may add extra Os to the end of your response, but the value of your answer will not be changed. Question 4 2 pts In a raffle where 1000 tickets are sold for $2 each, one prize of $56 and one prize of $947 will be awarded. What is the expected value of a single ticket in the raffle? State your answer in terms of dollars rounded to the nearest cent, but do not include a $ sign in your response. NOTE: Canvas may add extra Os to the end of your response, but the value of your answer will not be changed.Explanation / Answer
3)
expected value of ticket =expected win-cost of ticket =71/200-4= -3.65
4)
expected value of ticket =expected win-cost of ticket =(56+947)/1000-2= -1.00
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