document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1197971>Question 1197971</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 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 one ticket. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #831462 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=831462\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 1 ticket is sold at a cost of 3 dollars.<BR>\n" );
document.write( "the probability of getting 1000 dollars back is 1/1000.<BR>\n" );
document.write( "the probability of getting 500 dollars back is 1/1000.<BR>\n" );
document.write( "the probability of getting 100 dollars back is 5/100.<BR>\n" );
document.write( "the expectation on one ticket is therefore -3 * 1/1 + 1000 * 1/1000 + 500 * 1/1000 + 100 * 5/1000 =  -1.<BR>\n" );
document.write( "the person's expectation is to lose an average of one dollar per ticket.<BR>\n" );
document.write( "one way to look at it is:<BR>\n" );
document.write( "if the person buys all the tickets, the cost to the person is 3000 dollars.<BR>\n" );
document.write( "the prize money the person will receive is 2000.<BR>\n" );
document.write( "divide that by 1000 tickets sold to get an average loss of 1 dollar per ticket.\r<BR>\n" );
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