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For a fundraiser, there is a raffle with 50 tickets. One ticket will win a $190 prize, and the rest will win nothing. If you have a ticket, what is the expected payoff?

Tyler Redfearn
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    Hi Tyler, what have you tried? I guess you have either a book or an instructor, and one of these has likely provided you an example of this standard type of calculation. Can you imitate such an example? If you attempt to do so and "Edit" your post above to include this, we can look over your attempt. – 311411 May 10 '21 at 18:30
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    Also it will be appreciated if you look this over: https://math.meta.stackexchange.com/q/9959/688046 – 311411 May 10 '21 at 18:30
  • Hint: if the fundraiser made no profit, how much would a ticket cost? – PM 2Ring May 10 '21 at 18:33

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