1. The problem statement, all variables and given/known data[/b](adsbygoogle = window.adsbygoogle || []).push({});

A charitable organization is raffling a trip worth $500 to raise money and needs to decide which of the following scenarios would be the most profitable based on expected value of the proposed game.

Case A: 3,000 tickets are sold at $1.00 each.

Case B, 2,000 tickets are sold at $2.00 each.

1. Determine the expected value for the winnings of the players in Case A.

2. Determine the expected value for the winnings of the players in Case B.

2. Relevant equations

3. The attempt at a solution

To do this, wouldn't I have to know what the payout is?

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# Homework Help: Determine expected value of each winnings

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