In a Raffle, 1,000 Tickets Are Sold for $2 Each

question 40

Multiple Choice

In a raffle, 1,000 tickets are sold for $2 each. One ticket will be randomly selected and the winner will receive a laptop computer valued at $1200. What is the expected value for a person that buys one ticket?

• A)-$0.80
• B)$0.8
• C)$1.20
• D)-$1.20