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Mathematics, 23.07.2020 14:01 JojoSiwa901

Five thousand tickets are sold at $1 each for a charity raffle. Tickets are to be drawn at random and monetary prizes awarded as follows: 1 prize of $500, 3 prizes of $300, 5 prizes of $50, and 20 prizes of $5. What is the expected value of this raffle if you buy 1 ticket?

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