Probability
You choose to participate in a raffle. Raffle tickets sell for $5 each and there are a total of 10,000 tickets. The prizes in this raffle are:
- 1st prize: $20,000 college scholarship
(1 winner)
- 2nd prize: $10,000 college scholarship
(2 winners)
- 3rd prize: $1,000 college scholarship
(5 winners)
- 4th prize: $100 college scholarship
(50 winners)
You purchase one $5 raffle ticket. How much of your college tuition can you expect to be paid for by your raffle tickets purchase?
A. $100
B $5.00
C. -$10.20
D. $4.56
E. -$3.72
