Twenty thousand raffle tickets are sold for 4 each Three prizes will be awarded one...

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Twenty thousand raffle tickets are sold for 4 each Three prizes will be awarded one for 10 000 and two for 5 000 Assume that the probability that any given ticket is selected for the 10 000 prize is 1 and the 20 000 2 Winners do not have their ticket costs of 4 probability that any given ticket is selected for a 5 000 prize is 20 000 refunded to them Jennifer purchases one of these tickets Complete parts a and b below a Determine Jennifer s expected value Type an integer or a decimal rounded to the nearest hundredth as needed

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Twenty thousand raffle tickets are sold for 4 each Three prizes will be awarded one for 10 000 and two for 5 000 Assume that the probability that any given ticket is selected for the 10 000 prize is 1 and the 20 000 2 Winners do not have their ticket costs of 4 probability that any given ticket is selected for a 5 000 prize is 20 000 refunded to them Jennifer purchases one of these tickets Complete parts a and b below a Determine Jennifer s expected value Type an integer or a decimal rounded to the nearest hundredth as needed