Homework Help: statistics

Posted by george on Wednesday, August 29, 2007 at 7:40am.

Suppose you buy 1 ticket for $1 out of a lottery of 1,000 tickets where the price for the one winning ticket is to be $500. What is your expected value?

statistics - bobpursley, Wednesday, August 29, 2007 at 8:24am
Why are you posting under various names, questions without any proposed answers or thinking?
We will be happy to critique your thinking, but not so happy to do your homework for you.

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