document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=201968>Question 201968</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 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?\r<BR>\n" );
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document.write( "Thanks for your help. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #152248 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=152248\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 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? <BR>\n" );
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document.write( "Let the Random variable be \"Gain to the buyer\"<BR>\n" );
document.write( "Random Variable Values: -2, 398<BR>\n" );
document.write( "Corresponding Probabilities: (249/250) and (1/250)<BR>\n" );
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document.write( "Expected Value: (-2)*(249/250) + (2)(1/250) = -$1.98<BR>\n" );
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document.write( "You can expect to lose $1.98<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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