Jeep Offers

A service organization is selling $2 raffle tickets as part of a fund-raising program. The first prize is a boat valued at $2950, and the second prize is a camping tent valued at $400. In addition to the first and second prizes, there are 25 $20 gift certificates to be awarded. The number of tickets sold is 300. If x is the net gain to a player in a game of chance, the E(x) is usually negative. This value gives the average amount per game the player can expect to lose over the long run. In the above problem, find the expected net gain to the player for one play of the specified game.

Tags: calculus, Help., Probability

This entry was posted on Saturday, December 26th, 2009 at 2:29 pm and is filed under Boat Raffles. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.