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A school is holding a fundraising raffle. The first prize is $500, the three second prizes...

A school is holding a fundraising raffle. The first prize is $500, the three second prizes are $100 each, and the five third prizes are $50 each. A total of 2000 tickets were sold at $5.00 each.

What is the expected payout per ticket?

What price should have been charged to have a 90% profit per ticket?

math   Statistics-And-Probability   
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Answer #1
x 500 100 50
P(x) 1/2000 3/2000 5/2000

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