Post a New Question

algebra 2

posted by on .

I need help with this problem please
five hundred raffle tickets are sold for $3.00 each,one prize of 500 is to be awarded, Raul purchased one ticket. a) his expected value?
b) the fair price of the ticket?

  • algebra 2 - ,

    prob of win = 1/500

    a) expected value = (1/500)($500) = $1.00
    b) a "fair" price would be $1.00

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question