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Tickets for a raffle cost 8 There were 689 tickets sold One ticket will be...

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Basic Math

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Tickets for a raffle cost 8 There were 689 tickets sold One ticket will be randomly selected as the winner and that person wins 1700 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 decimal places Expected Value

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