I there are 1000 numbers in a contest what is the probability you win if:
- play 1 number for $1.00
- play 2 numbers for $1.00
- play 1 number for $2.00
The correct answer is Play 2 numbers for $1.00 because you get two shots at having a better probability to win and you're only paying $1.00 whereas D isn't worth it because $2.00 for 1 number is over priced compared to B. So, B is the correct answer, give me feedback if I'm wrong.
I thought I was looking for a %
To find the probability of winning in each scenario, we need to know the total number of possible outcomes and the number of favorable outcomes (in this case, winning outcomes).
First, let's find the total number of possible outcomes. Since there are 1000 numbers in the contest, the total number of possible outcomes is 1000.
1. Playing 1 number for $1.00:
- The number of favorable outcomes is 1 (since you only play 1 number).
- Therefore, the probability of winning is 1/1000.
2. Playing 2 numbers for $1.00:
- The number of favorable outcomes is 2 (since you play 2 numbers).
- Therefore, the probability of winning is 2/1000 or simplified as 1/500.
3. Playing 1 number for $2.00:
- The number of favorable outcomes is 1 (since you only play 1 number).
- Therefore, the probability of winning is 1/1000.
Remember that probability is determined by dividing the number of favorable outcomes by the total number of possible outcomes.