Mathematics, 03.05.2021 20:50 prelogical

In a raffle, one ticket out of 125 will win a $110 prize, one ticket will win a $80 prize, and one ticket will win a $40 prize.
The remaining tickets will win nothing. If you have a ticket,
what is the expected payoff?
$1.85
$0.008
$0.008
$1.84

Answers: 2

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In a raffle, one ticket out of 125 will win a $110 prize, one ticket will win a $80 prize, and one...