SOLUTION: For a fundraiser, there is a raffle with 100 tickets. One ticket will win a $150 prize, and the rest will win nothing. If you have a ticket, what is the expected payoff?
$____
Algebra.Com
Question 1160743: For a fundraiser, there is a raffle with 100 tickets. One ticket will win a $150 prize, and the rest will win nothing. If you have a ticket, what is the expected payoff?
$____
The question is in the question here: https://i.imgur.com/I2ee60p.png
Answer by greenestamps(13200) (Show Source): You can put this solution on YOUR website!
The expected payoff for one ticket is the total payout ($150) divided by the number of tickets (100).
You can do the simple arithmetic.
RELATED QUESTIONS
Suppose a local food bank is selling raffle tickets as a fundraiser and claims that each... (answered by Theo)
A charity organization is selling raffle tickets for $1 each. There will be one $150... (answered by edjones,strickjh2005)
You buy a raffle ticket that cost you $5. There are 200 total tickets sold for this... (answered by Boreal)
Jason bought 10 of the 30 raffle tickets for a drawing. What is the probability that... (answered by robertb)
The student government is selling raffle tickets to raise money for a school activity. A... (answered by CPhill)
A certain raffle has one ticket that wins a $150 prize and five tickets that each win a... (answered by math_tutor2020)
16. Central high school is selling lottery tickets to raise money for a new sound system. (answered by venugopalramana)
in a raffle where there are only 10 tickets sold and 2 prizes awarded what is the... (answered by stanbon,richwmiller)
There are 1000 tickets sold in a raffle. If you have 4 of these tickets and 10 prizes are (answered by sudhanshu_kmr)