Answer:
The expected net winnings for a person is $2500.
Step-by-step explanation:
Given:
A charitable organisation decides to raise money by raffling a trip worth $500. 3,000 tickets are sold at $1.00
To Find:
The expected net winnings for a person who buys 1 ticket. = ?
Solution:
Since there are 3000 tickets and the price of each ticket is $1. We can find the total amount collected for the event as follows:
3000 x 1=$3000
It is given that the charitable trip is worth $500.
So, the money left as prize money is
=3000-500
=2500
