document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=479070>Question 479070</A>: <I><SPAN STYLE=\"word-break: break-all;\"> In a game of change if you purchase one ticket out of the 100 tickets being sold at a cost of $5.00 how much money would you expect to win taking into consideration the cost of the ticket. The winning prize is $500?\r<BR>\n" );
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document.write( "If I purchase two tickets instead of one ticket at the same cost of $5.00 each, how much money would I expect to win, taking into consideration the cost of the tickets if the winning prize is $500.\r<BR>\n" );
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document.write( "Which of these games, if any, are fair? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #328274 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=328274\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> In a game of chance if you purchase one ticket out of the 100 tickets being sold at a cost of $5.00 how much money would you expect to win taking into consideration the cost of the ticket. The winning prize is $500?<BR>\n" );
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document.write( "E(gain) = (1/100)495 + (99/100)(-5) = (495-495)/100 = 0<BR>\n" );
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document.write( "If I purchase two tickets instead of one ticket at the same cost of $5.00 each, how much money would I expect to win, taking into consideration the cost of the tickets if the winning prize is $500.<BR>\n" );
document.write( "E(gain) = (2/100)490 +(98/100)(-10) = (980 - 980)/100 = 0<BR>\n" );
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document.write( "Which of these games, if any, are fair?<BR>\n" );
document.write( "Ans: Both are fair.<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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