## Trending News

Promoted

# A charity holds a raffle in which each ticket is sold for $30. ?

A total of 9400 tickets are sold. They raffle one grand prize which is a BMW M3 valued at $65000 along with 4 second prizes of DuWhat are the expected winnings for a single ticket buyer? Ducati motorcycles valued at $11000 each.

### 1 Answer

Relevance

- PuzzlingLv 79 months ago
Total prize value:

1 * $65,000

4 * $11,000

-------------

= $109,000

Total amount spent on the tickets:

9400 * $30

= $282,000

The prizes minus the raffle ticket cost results in a negative amount for the player:

109,000 - 282,000

= -173,000

Divide that over the 9400 tickets to find the expected *loss* for a single ticket buyer.

-173,000 / 9400

= -18.40

Answer:

The *loss* per ticket is $18.40

(In other words, the expected prize value is $11.60 but they had to buy a $30 raffle ticket, so it's a loss of $18.40 for each ticket.)

Still have questions? Get your answers by asking now.

Thank you!!!