document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=238892>Question 238892</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A raffle offers (1) first prize of $1000, (2) second prizes of $300 and (20) third prizes of $10. 15,000 tickets were sold for 25 cents each. Find the expected winnings for a person buying 1 ticket. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #175530 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=175530\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A raffle offers (1) first prize of $1000, (2) second prizes of $300 and (20) third prizes of $10. 15,000 tickets were sold for 25 cents each. Find the expected winnings for a person buying 1 ticket.<BR>\n" );
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document.write( "Random number values are 1000, 300 (twice) , 10 (20 times). (-0.25)<BR>\n" );
document.write( "Corresponding probabilities are (1/15000), (2/15000), (20/15,000), (14977/15000)<BR>\n" );
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document.write( "Expected winnings: [1000 + 600 + 200 -(14977*0.25)]/15000<BR>\n" );
document.write( "= (1800 - 3744.25)/15000 = -0.13 cents<BR>\n" );
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document.write( "Expected winnings are -13 cents<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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