document.write( "Question 1189209: A lottery offers one 1000$ prize one 500$ prize and five 100$ prizes One thousand tickets are sold at 3$ each.Find the expectation if a person buys 1 ticket \n" ); document.write( "

Algebra.Com's Answer #820516 by ikleyn(52776) $\"\"$ $\"About$

You can put this solution on YOUR website!
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\n" ); document.write( "\n" ); document.write( " In this problem, there are two expectations.\r
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document.write( "One expectation is the expectation to win.\r\n" );
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document.write( "Having one ticket of 1000 tickets, the probabilities are  \r\n" );
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document.write( "           to win  $1000;\r\n" );
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document.write( "           to win   $500;\r\n" );
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document.write( "    and    to win   $100.\r\n" );
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document.write( "Therefore, the \"expectation to win\" is this amount\r\n" );
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document.write( "    expectation to win =  +  +  = 2 dollars.\r\n" );
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document.write( "The other expectation is the \"expectation of the game\".\r\n" );
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document.write( "It is equal to expectation to win    the price of one ticket, i.e.\r\n" );
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document.write( "    expectation of the game = $2 - $3 = - $1.\r\n" );
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document.write( "It means that playing the game many times, the gamer will lose, in average, 1 dollar per game.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Find several distinctions/differences between my solution and the solution by @Boreal.\r
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