document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=664741>Question 664741</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 2.	Suppose you buy one ticket at $3 for a raffle that contains 400 tickets, where there is one $250 prize and two $125 prizes being awarded. What is your expected net gain?\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #413421 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=413421\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 2. Suppose you buy one ticket at $3 for a raffle that contains 400 tickets, where there is one $250 prize and two $125 prizes being awarded. What is your expected net gain? <BR>\n" );
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document.write( "Random number \"gains: 247:::: 122:::::122:::: -3<BR>\n" );
document.write( "Probabilities:::::::: 1/400:::1/400:::1/400:::397/400<BR>\n" );
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document.write( "E(x) = (247 + 122 + 122+ + 122 - 3(397))/400<BR>\n" );
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document.write( "E(x) = -700/400 = -$1.75<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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