document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=381418>Question 381418</A>: <I><SPAN STYLE=\"word-break: break-all;\"> One thousand raffle tickets are sold for $2.00 each. One grand prize of $500 and two consolation prizes of $100 each will be awarded. Jeremy purchases one ticket. Find his expected value. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #270552 by </B><A HREF=/tutors/aboutme.mpl?userid=edjones><B>edjones(8007)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=edjones><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/cgi-bin/show-face.mpl?user=edjones><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=270552\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 500+200=700<BR>\n" );
document.write( "1/1000 * 700 = 700/1000 = $0.70 expected value of the ticket.<BR>\n" );
document.write( "Since he paid more than $0.70 for the ticket he has a bad bet.<BR>\n" );
document.write( ".<BR>\n" );
document.write( "Ed<BR>\n" );
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