document.write( "Question 573802: If you pay $20 to enter a game and the winning a prize money of $1000 is 1 out of 200, $500 is 1 out of 100, $200 is 1 out of 50, $100 is 1 out of 20. Do you lose or win in a long run? \n" ); document.write( "
Algebra.Com's Answer #368892 by stanbon(75887) ![]() You can put this solution on YOUR website! If you pay $20 to enter a game and the winning a prize money of $1000 is 1 out of 200, $500 is 1 out of 100, $200 is 1 out of 50, $100 is 1 out of 20. Do you lose or win in a long run? \n" ); document.write( "---- \n" ); document.write( "E(x) = (1/200)*1000 + (1/100)*500 + (1/50)200 + (1/20)*100 - (83/100)20 \n" ); document.write( "----- \n" ); document.write( "= (1/200)*1000 + (2/200)*500 + (4/200)200 + (10/200)*100 - (183/200)20 \n" ); document.write( "------------------ \n" ); document.write( "= (1000+1000+800+1000-3660)/200 = $0.70 \n" ); document.write( "-------------- \n" ); document.write( "> 0 \n" ); document.write( "---- \n" ); document.write( "You win. \n" ); document.write( "=========================== \n" ); document.write( "Cheers, \n" ); document.write( "Stan H. \n" ); document.write( "============ \n" ); document.write( " |