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" );
document.write( "\n" );
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" );
document.write( "\n" );
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 #328275 by </B><A HREF=/tutors/aboutme.mpl?userid=robertb><B>robertb(5830)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=robertb><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=robertb><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=328275\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> let x=  random variable for the earnings\r<BR>\n" );
document.write( "\n" );
document.write( "If only one ticket is bought, <BR>\n" );
document.write( "If x = -5, then p(x) = 99/100, <BR>\n" );
document.write( "If x = 495, then p(x) = 1/100, and so<BR>\n" );
document.write( "E(x) = -5*(99/100) + 495*(1/100) = 0, the expected earning.\r<BR>\n" );
document.write( "\n" );
document.write( "If 2 tickets are bought, <BR>\n" );
document.write( "E(X) = -10*(98/100) + 490*(2/100) = 0, the expected earning.\r<BR>\n" );
document.write( "\n" );
document.write( "Both games are fair. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );