Tamin bought a ticket in a raffle in which 500 tickets were sold. If there are 5 prizes, what is the probability that Tamin does not win a prize?
(500-5)/500 = ?
To find the probability that Tamin does not win a prize, we need to know how many tickets Tamin bought and how many total tickets were sold.
The total number of tickets sold in the raffle is given as 500. Let's call this number "T".
If Tamin bought a single ticket, then Tamin's chance of winning a prize would be the number of prizes divided by the total number of tickets:
P(Tamin wins a prize) = number of prizes / total number of tickets
P(Tamin wins a prize) = 5 / 500
P(Tamin wins a prize) = 1/100
However, we are interested in finding the probability that Tamin does not win a prize. To do this, we subtract the probability of winning a prize from 1 (since the sum of the probabilities of all possible outcomes is 1):
P(Tamin does not win a prize) = 1 - P(Tamin wins a prize)
P(Tamin does not win a prize) = 1 - 1/100
P(Tamin does not win a prize) = 99/100
Therefore, the probability that Tamin does not win a prize is 99/100 or approximately 0.99 (or 99%).