Post a New Question


posted by .

A raffle sold 400 tickets and awards a grand prize of $1,000.

Was $4 a fair price to pay for a ticket?

  • Math -

    "fair" is a subjective term. However, $4 is not "actuarilly fair" as the seller pulled in $1600 and only paid out $1000. $2.50 would have been and actuarilly fair price.

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions

Post a New Question