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?

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

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

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

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