What are the expected winnings far a ticket buyer

Reference no: EM13185981

A raffle has a grand prize of a Alaskan cruise valued at $5500 with a second prize of a weekend in San Diego valued at $500. If each ticket costs $3 and 11800 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).

Reference no: EM13185981

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