Homework Help: MATH157

Posted by Q on Thursday, March 18, 2010 at 5:27pm.

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?

MATH157 - bobpursley, Thursday, March 18, 2010 at 7:20pm
expected value=500*1/3000=.17cts

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