The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $8 each and will sell 900 tickets. There is one $3,000 grand prize, two $500 second prizes, and ten $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.

Step-by-step explanation:

the probability that the ticket will win you 600 dollars * 1/1500 = 600/1500.

the probability that the ticket will win you 50 dollars is 50 * 5/1500 = 250/1500.

the probability that the ticket will win you 25 dollars is 25 * 20/1500 = 500/1500.

your expected value is -1 + 600/1500 + 250/1500 + 500/1500 = -.1.

the average loss for each dollar that is bet is equal to 10 cents.

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the multiples of 15 are 15, 30,45, 60, 75, 90, 105, 120, 135, 150, 165, 180, 195,   210, 225, 240, 255, 270, 285, 300, 315, 330, 345, 360, 375,   390, 405, 420, 435, 450, 465, 480, 495, 510, 525, 540, 555, 570, 585, 600, 615, 630, 645, 660, 675, 690, 705, 720, and 735.

the factors of 15 are 1, 3, 5, and 15.

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-une, your fren : )

y=20x

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