document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=208097>Question 208097</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Sam brought 1 to 250 tickets selling for $2 in a game with a game prize of $400. Was $2 a fair price to pay for the ticket to play the game? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #157466 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=157466\">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 game prize of $400. Was $2 a fair price to pay for the ticket to play the game?<BR>\n" );
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document.write( "Random variable values are 398 and -2<BR>\n" );
document.write( "Corresponding probabilities are (249/250) and 1/250<BR>\n" );
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document.write( "E(x) = (249/250)*(-2) + (1/250)*398<BR>\n" );
document.write( "E(x) = -1.992 + 1.592<BR>\n" );
document.write( "E(x) = -40 cents (He can expect to lose 40 cents)<BR>\n" );
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document.write( "To make the game fair he should only pay $1.60 to play the game.<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( " </SPAN>\n" );
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