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A Raffle Ticket Costs $5

Question 44

Multiple Choice

A raffle ticket costs $5. First-prize and second-prize winners will be drawn at random. The probability of winning the $100 first prize is 1/40, and the probability of winning the $25 second prize is 1/20. What is the mean winnings for one play, taking into account the $5 cost of the ticket?


A) −$1.25
B) −$0.875
C) $3.375
D) $3.75

Correct Answer:

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