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30 January, 17:10

A nonprofit organization plans to hold a raffle to raise funds for its operations. A total of 1,000 raffle tickets will be sold for $1.00 each. After all the tickets are sold, one ticket will be selected at random and its owner will receive $50.00. The expected value for the net gain for each ticket is - $0.95. What is the meaning of the expected value in this context?

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  1. 30 January, 20:46
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    ticket owner loses an average of $0.95 per raffle ticket

    Step-by-step explanation:

    No profit organization plans to hold a raffle to raise funds for its operation. The expected value in this context is that ticket owner loses an average of $ 0.95
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Home » Mathematics » A nonprofit organization plans to hold a raffle to raise funds for its operations. A total of 1,000 raffle tickets will be sold for $1.00 each. After all the tickets are sold, one ticket will be selected at random and its owner will receive $50.00.
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