Acharity is holding a raffle to raise money. there is one car worth $30,000 and five $100 gift cards being raffled off. each ticket costs $20, and there are a total of 5,000 tickets being sold. which equation correctly depicts the calculation of the expected value for a ticket?

The required equation is,

Step-by-step explanation:

Since, the total number of tickets = 5000,

In which Each ticket costs $20,

Also, There is one car worth $30,000 and five $100 gift cards being raffled off,

Thus, by these informations we can make the following table,

Number of tickets          1                5                4994      

Listed price($)           30,000          100               0

Loss                             20               20                20

Actual price($)           29980           80                -20

Probability                 1/ 5000       5/5000         4994/5000

We know that,

Expected value = Actual value × Probability,

Hence, the expected value for a ticket

Which is the required equation.