wesley

posted by .

there will be a coin toss to determine the winner of the $5 million prize. You are offered $100,000 for your ticket right now. What would you do?

  • wesley -

    I would keep it. The chances of winning the toss is 50%. Whereas, if I sold my ticket, the chances of winning are 0%. You're welcome. - Wrinkly

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. statistic

    A lottery ticket has a grand prize of $28 million. The probability of winning the grand prize is .000000023. Based on the expected value of the lottery ticket, would you pay $1 for a ticket?
  2. Statistics

    A lottery ticket has a grand prize of $28 million. The probability of winning the grand prize is .000000023. Based on the expected value of the lottery ticket, would you pay $1 for a ticket?
  3. Statistics

    The state lottery claims that its grand prize is $1 million. The lucky winner will receive $50,000 upon presentation of the winning ticket plus $50,000 at the end of each year for the next 19 years. Why isn't this really a million-dollar …
  4. Statisics

    The state lottery claims that its grand prize is $1 million. The lucky winner will receive $50,000 upon presentation of the winning ticket plus $50,000 at the end of each year for the next 19 years. Why isn't this really a million-dollar …
  5. Statisics

    The state lottery claims that its grand prize is $1 million. The lucky winner will receive $50,000 upon presentation of the winning ticket plus $50,000 at the end of each year for the next 19 years. Why isn't this really a million-dollar …
  6. math

    A certain sweepstakes ticket has four categories of prizes with the following probabilities of being won: Prize Probability $100,000 1/500,000 $50,000 1/250,000 $20,000 1/200,000 $10,000 1/100,000 If each ticket costs $1.00, what is …
  7. Math

    200 tickets are sold to a raffle. It costs $5 to buy a ticket. There is one first prize winner and one second prize winner. First prize is $500. Second prize is $250. What is the value of playing this game?
  8. Statistic

    200 tickets are sold to a raffle. It costs $5 to buy a ticket. There is one first prize winner and one second prize winner. First prize is $500. Second prize is $250. What is the value of playing this game?
  9. stat

    200 tickets are sold to a raffle. It costs $5 to buy a ticket. There is one first prize winner and one second prize winner. First prize is $500. Second prize is $250. What is the value of playing this game?
  10. stats.help!

    Each year, 64 college basketball teams compete in the NCAA tournament . Sandbox . com recently offered a prize of $10 million to anyone who could correctly pick the winner in each of the tournament games. A. How many games are required …

More Similar Questions