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Please help! Correct answer only!

For a fundraiser, there is a raffle with 50 tickets. One ticket will win a $180 prize, and the rest will win nothing. If you have a ticket, what is the expected payoff?

Please help Correct answer only For a fundraiser there is a raffle with 50 tickets One ticket will win a 180 prize and the rest will win nothing If you have a t class=

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Answer:

$ 3.60 ; Type in 3.60

Step-by-step explanation:

Consider the steps below;

[tex]Total Number of Tickets - 50 Tickets,\\Possible Number of Tickets Entered - 1 Ticket,\\\\Proportion - 1 / 50\\Money Won - 180 Dollars,\\\\Proportionality - 1 / 50 = x / 180, Where, x = " Expected Payoff "\\\\1 / 50 = x / 180,\\1 / 50 * 180 = x,\\x = 180 / 50,\\x = 3.60 Dollars,\\\\Conclusion ; x = 3.60 Dollars[/tex]

Solution ; " Expected Payoff " ⇒ $ 3.60

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