Use the following statement to answer parts a and b Two

Last updated: 4/24/2023

Use the following statement to answer parts a and b Two hundred raffle tickets are sold for 3 each One prize of 400 is to be awarded Winners do not have their ticket costs of 3 refunded to them Raul purchases one ticket a Determine his expected value b Determine the fair price of a ticket a His expected value is Type an integer or a decimal