college math

posted by .

sam bought 1 of 250 tickets for $2 in a raffle with the prize of $400. Was $2 fair price?

Can someone show me the formula on how to get this answer. My text is super confusing.

  • college math -

    expected value=pr(win)* prize
    = 1/250 * 400
    Is that expected value greater than the cost of the ticket?

  • college math -

    A box, with rectangular sides, base and top is to have a volume of 4 cubic feet. It has a square base. If the material for the base and top costs 10 dollars per square foot and that for the sides costs 20 dollars per square foot, what is the least cost it can be made for?

  • college math Michelle -

    First, if you have a question, it is much better to put it in as a separate post in <Post a New Question> rather than attaching it to a previous question, where it is more likely to be overlooked.

    Second, your description of the problem is confusing and inadequate. Does "rectangular" apply to all "sides, base and top" or just "sides"? With the statement that follows it, I assume the latter.

    Without more information, it is impossible to determine how tall the box is and how small the base is. If the sides were square rather than rectangular, it could be resolved. Is that the case?

    Can you repost with more adequate information?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. MATH Prob.

    Sam bought 1 of 250 tickets selling for $2 in a game with a grand prize of $400. Was $2 a fair price to pay for a ticket to play this game?
  2. Math

    A raffle sold 400 tickets and awards a grand prize of $1,000. Was $4 a fair price to pay for a ticket?
  3. math

    Sam bought 1 of 250 tickets selling for $2 in a game with a grand prize of $400. Was $2 a fair price to pay for a ticket to play this game?
  4. math

    Sam bought 1 of 250 tickets selling for $2 in a game with a grand prize of $400. Was $2 a fair price to pay for a ticket to play this game?
  5. Math

    Sam bought 1 of 250 tickets selling for $2 in a game with a grand prize of $400. Was $2 a fair price to pay for a ticket to play this game.
  6. MATH

    Sam bought 1 of 250 tickets selling for $2 in a game with a grand prize of $400. Was $2 a fair price to pay for a ticket to play this game?
  7. Math157

    I am having problems finding the correct way to solve this problem. I don't know the formula or even how to set it up. "Sam brought one of 250 tickets selling for $2 in a game with a grand prize of $400. Was $2 a fair price to pay …
  8. liberal arts math 1

    Five hundred raffle tickets were sold for $2 each. A prize of $400 is to be awarded. If you buy one ticket, determine the expected value. What is the fair price for a ticket?
  9. math

    sam bought 1 of 250 tickets selling for $2 in a game with a grand prize of 400 dollars. Was $2 a fair price to pay for a ticket to play this game?
  10. Statistics

    There is a $2 raffle with a first prize of $10000, a second prize of $500, and a 3rd prize of $100. If 1000 tickets are sold find the expected value. How much should the raffle ticket cost to make this a fair game?

More Similar Questions