Posted by **Jack** on Tuesday, January 11, 2011 at 10:10am.

A sweepstakes posted the odds and payoffs. Suppose that mailing the sweepstakes costs $0.33 and the odds in favor of winning the various prizes are listed in the chart below. What is the expected value of the sweepstakes for any individual? Considering the postage, is the drawing fair?

Chart given

Odds Prize Quantity

1 to 10000000 $2000000 1

1 to 10000000 $200000 10

1 to 5000000 $2000 100

- Math -
**jiang wang **, Thursday, January 13, 2011 at 11:55am
1+1

## Answer This Question

## Related Questions

- math - A certain sweepstakes ticket has four categories of prizes with the ...
- math - I'm so lost with this stuff! 2. What is the P (A) if we know that the ...
- Data Management - A confident and boastful coach claims that on the next league ...
- Math - Odds - If you toss three coins, what are the odds in favor of getting ...
- Math/Statistics - A certain drawing states that the odds of winning are 15:270. ...
- math - A card is drawn at random from an ordinary deck of playing cards. Find ...
- math - a teaher chooses a student at random from a class of 10 boys and 15 girls...
- math - A certain sweepstakes ticket has four categories of prizes with the ...
- math - Find the probability which odds in favor are given in problem. Odds in ...
- math 8th please help - a teaher chooses a student at random from a class of 10 ...

More Related Questions