A charity is holding a raffle and sells 2000 tickets for $2 each. One ticket will win a grand
prize of $500. Two other tickets will be selected to win consolation prizes of $50 each.
Find the expected value if you buy one raffle ticket.

You would expect to lose $1.80 for each ticket purchased
You would expect to lose $ 1.55 for each ticket purchased
You would expect to lose $1.70 for each ticket purchased
You would expect to lose $1.60 for each ticket purchased

Lose $1.70 for each ticket you purchase

Step-by-step explanation:

($500 x 1/2000) + ($50 x 2/2000) - $2

$0.25 + $0.05 - $2

-$1.70

answer: first option i.e. 'a' is correct.

step-by-step explanation:

since we have given that

number of minutes to wrap a small gift box = 4 minutes

we need to find the number of gifts to be wrapped in 5 minutes

since there is a direct variation, as the number of minutes will increase with   number of gifts to be wrapped.

so, let the number of gifts to be wrapped in 5 minutes be x.

so, it becomes,

hence, first option 'a'   is correct.