mdrm0829
Apr 20, 2008, 07:10 PM
:confused: The prizes that can be won in a sweepstakes are listed below together with the chances of winning each one. $3,500 (1 chance in 8,800); $2,900 (1 chance in 7,000); $600 (1 chance in 4,700); $200 (1 chance in 2,300). Find the expected value of amount won for one entry if the cost entering is 58 cents.