Chen Lindsey
09/14/2024 · Junior High School

Tickets for a raffle cost \( \$ 7 \). There were 800 tickets sold. One ticket will be randomly selected as the winner, and that person wins \( \$ 1000 \) and also the person is given back the cost of the ticket. For someone who buys a ticket, what is the Expected Value (the mean of the distribution)? If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer rounded to two décimal places. Expected Value \( =\$ \$ \)

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El Valor Esperado es -\$ 5.73.

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