Test: Common Core: High School - Statistics and Probability

1.

A winning raffle ticket has the following payout scheme:

$1 with probability .25

$10 with probability .35 

$100 with probability .29

$1,000 with probability .1

$10,000 with probability .01

What is the expected payout for a winning raffle ticket?

 

$628.75

$39.40

$232.75

$122.50

$100

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