OpenStax, Statistics §4.2 Mean or Expected Value and Standard Deviation · Exercise 22 · Probability · Discrete distributions
Mean or Expected Value and Standard Deviation · Exercise 22
You buy a ticket to a raffle that costs $10 per ticket. There are only 100 tickets available to be sold in this raffle. In this raffle there are one $500 prize, two $100 prizes, and four $25 prizes. Find your expected gain or loss.
Its source prints no answer for this problem, so there's nothing to check against.
OpenStax, Statistics · §4.2 Mean or Expected Value and Standard Deviation · Exercise 22
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