Mathematics

Alvin Cuevas

9 September, 20:22

A raffle for charity cost 5$ to enter. There are three prizes. First is worth 25$, second prize is worth 15$ and the third prize is worth 10$. If 20 people entered the raffle with an equal chance to win, what is expected loss or gain for one ticket?

A.) loss of 3.25

B.) gain 7.50

C.) loss of 2.50

D.) gain of 1.59