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Discrete Random Variables
5. Binomial Distribution & Discrete Random Variables / Discrete Random Variables / Problem 2
Problem 2

A charity is selling \(15\$15 raffle tickets to raise funds. The grand prize is a new laptop valued at \)2,200\$2,200, the second prize is a bicycle worth \(650\$650, and there are 1212 third prizes of \)120\$120 gift cards. If 2,0002,000 tickets are sold, what is the expected value for a player who buys 11 ticket?