document.write( "Question 841599: Suppose you buy 1 ticket for $2 out of a lottery of 500 tickets where the prize for the one winning ticket is to be $100. What is your expected win/loss?
\n" ); document.write( "
\n" ); document.write( " a) $23.20
\n" ); document.write( " b) -$1.80
\n" ); document.write( " c) $21.00
\n" ); document.write( " d) -$0.80
\n" ); document.write( " \n" ); document.write( "

Algebra.Com's Answer #507028 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!

 
\n" );
document.write( "Hi,
\n" );
document.write( "Suppose you buy 1 ticket for $2 out of a lottery of 500 tickets 
\n" );
document.write( "where the prize for the one winning ticket is to be $100.
\n" );
document.write( "What is your expected win/loss?
\n" );
document.write( "  chance of winning.  Chance of losing 
\n" );
document.write( "E = .002*98 - (499/500)*2 = $ -1.80 \n" );
document.write( "

\n" );