Homework Help: math

Posted by tony on Tuesday, January 8, 2013 at 11:27am.

100 raffle tickets are sold for $3 with one grand prize of $200. Julie purchased one ticket. What is her expectation? What is the fair value of a ticket?

math - Jennifer, Wednesday, January 9, 2013 at 7:25pm
Her expectation of winning is 1%. The fair value is $200/100 = $2.00

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