3
QuizMultiple Choice
Expected Value
Question 3 of 10 • Mathematics III A
If a raffle has a winning prize of $100 and each ticket costs $5 with a total of 500 tickets sold, which equation would calculate the expected value?
Answer
A
100 (StartFraction 1 Over 500 EndFraction) + (negative 5) (StartFraction 499 Over 500 EndFraction) = E (X)
B
95 (StartFraction 1 Over 500 EndFraction) + (negative 5) (StartFraction 499 Over 500 EndFraction) = E (X)
C
(100 minus 5) (StartFraction 1 Over 500 EndFraction) = E (X)
D
(100) (StartFraction 1 Over 500 EndFraction) = E (X)