document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=257288>Question 257288</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose you buy 1 ticket for $1 out of a lottery of 3000 tickets. If  the prize for the one winning ticket is to be $500, what are your expected winnings?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #189258 by </B><A HREF=/tutors/aboutme.mpl?userid=drk><B>drk(1908)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=drk><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=189258\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Expected value is<BR>\n" );
document.write( "np = (1/3000)*($500) = $(1/6) = 16.66 cents<BR>\n" );
document.write( "you pay $1, so your expected winnings would be<BR>\n" );
document.write( ".16666 - 1.00 = -$ 0.83 cents </SPAN>\n" );
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