document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1149764>Question 1149764</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the expected payback for a game in which you bet ​$10 on any number from 0 to 99. If your number comes​ up, you get ​$500.\r<BR>\n" );
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document.write( "I tried working it out the way the book said to and I got a payback of 0.00 which would be a fair bet, but it says it's wrong. Please help.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #771096 by </B><A HREF=/tutors/aboutme.mpl?userid=math_helper><B>math_helper(2461)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=math_helper><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=math_helper><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=771096\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Find the expected payback for a game in which you bet ​$10 on any number from 0 to 99. If your number comes​ up, you get ​$500.<BR>\n" );
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document.write( "In this game, you will lose 99 out of 100 plays, and win 1 out of 100 plays.  Assuming the bet is always collected by the house:<BR>\n" );
document.write( "(-10)*(99/100) + (500-10)*(1/100) = -5<br>\r<BR>\n" );
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document.write( "The expected payback for this game is to LOSE $5 per play (on average) for a large number of plays of this game.\r<BR>\n" );
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document.write( "EDIT: The solution I gave assumes each number is equally likely to come up. </SPAN>\n" );
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