A raffle has a grand prize of a Caribbean cruise valued at $12500 with a second prize of a Rocky Point vacation valued at $1300. ?

If each ticket costs $3 and 12000 tickets are sold, what are the expected winnings far a ticket buyer? Express to at least three decimal place accuracy in dollar form (as opposed to cents). 

2 Answers

  • 9 months ago

    12500 + 1300 = 13,800 winnings

    3*12,000 = 36,000 cost

    (36000 -13800)/12000 = 22200/12000 = $1.85 expected loss

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  • 9 months ago

    You can use the same method as your other question.

    • Nick9 months agoReport

      I tried to and got -1.74 and its saying it is wrong. I'm not sure where I am messing up

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