Posted by Doris on Tuesday, April 29, 2014 at 8:28pm.
1000 raffle tickets are sold and the winner is chosen at random there is only one prize $500 in cash you buy one ticket(a) what is the probability you will win the prize of $500 (b) your expected earnings can be found by multiplying the value of the prize by the probability you will win the prize what are your expected earnings?

statistics  anna, Wednesday, February 25, 2015 at 8:40pm
5 dollars

statistics  Ange, Thursday, November 19, 2015 at 10:35am
b) 500 x .001=.5

statistics  Ange, Thursday, November 19, 2015 at 10:36am
a) 1/1000= .001
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