[All Steps] One thousand raffle tickets are sold for $5.00 each. One grand prize of $1000 and two consolation prizes of $100 each will be awarded. Jeremy
Question: One thousand raffle tickets are sold for $5.00 each. One grand prize of $1000 and two consolation prizes of $100 each will be awarded. Jeremy purchases one ticket. Find his expected value. Show your work for full credit.
Deliverable: Word Document 
![[See Solution] A person spins the pointer](/images/solutions/MC-solution-library-67314.jpg "[See Solution] A person spins the pointer and is awarded the amount")
[See Solution] A person spins the pointer and is awarded the amount
![[See Steps] Short Answer. Of 29 college](/images/solutions/MC-solution-library-67315.jpg "[See Steps] Short Answer. Of 29 college juniors at Pelican State")
[See Steps] Short Answer. Of 29 college juniors at Pelican State
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