Homework Help: math

Posted by Carli on Thursday, November 5, 2009 at 11:40am.

Suppose you buy 1 ticket for $1 out of a lottery of 3000 tickets. If the prize for the one winning
ticket is to be $500, what are your expected winnings?

math - joe, Thursday, November 5, 2009 at 3:09pm
it depends on the amount of ppl who would win
math - joe, Thursday, November 5, 2009 at 3:10pm
it depends on the amount of ppl who would win
and
math - PsyDAG, Saturday, November 7, 2009 at 11:48am
From your data, you have a 1/3000 chance of winning $500 and a 2999/3000 chance of winning nothing.

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