Mathematics, 10.06.2020 19:57 andrewschmitz132

Please help! Correct answer only! I've been stuck on this question for more than an hour. In a raffle, one ticket out of 500 will win a $390 prize, three tickets will win a $230 prize, and sixteen tickets will win a $170 prize. The remaining tickets will win nothing. If you have a ticket, what is the expected payoff?

Please help! Correct answer only! I've been stuck on this question for more than an hour.

In a ra

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Please help! Correct answer only! I've been stuck on this question for more than an hour. In a raff...