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March 28, 2017

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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 - ,

    it depends on the amount of ppl who would win

  • math - ,

    it depends on the amount of ppl who would win
    and

  • math - ,

    From your data, you have a 1/3000 chance of winning $500 and a 2999/3000 chance of winning nothing.

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