Solved: Lotteries in a lottery 5000 tickets are sold for 1 each one, Mathematics

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Lotteries in a lottery 5000 tickets are sold for 1 each one

Question: LOTTERIES In a lottery, 5000 tickets are sold for $1 each. One first prize of $2000, 1 second prize of $500, 3 third prizes of $100, and 10 consolation prizes of $25 are to be awarded. What are the expected net earnings of a person who buys one ticket?

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Mathematics: Lotteries in a lottery 5000 tickets are sold for 1 each one

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