document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=126400>Question 126400</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I don't know what this would fall under, in my text it is under expectations in probability:\r<BR>\n" );
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document.write( "500 raffle tickets are sold at $2.00 each.  One grand prize is $100.00 and two consolation prizes of $50.00 will be awarded.  Find Jake's expectation if he purchases one ticket.\r<BR>\n" );
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document.write( "I set my problem up as:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1%2898%29%2F500+%2B+1%2848%29%2F500+%2B+1%2848%29%2F500+-+497%28-2%29%2F500 ALIGN=MIDDLE  ALT=\"1%2898%29%2F500+%2B+1%2848%29%2F500+%2B+1%2848%29%2F500+-+497%28-2%29%2F500\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=98%2F500+%2B+48%2F500+%2B+48%2F500+-+994%2F500+=+-800%2F500+=+-1.60 ALIGN=MIDDLE  ALT=\"98%2F500+%2B+48%2F500+%2B+48%2F500+-+994%2F500+=+-800%2F500+=+-1.60\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "Jake's expectation would be to loose $1.60\r<BR>\n" );
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document.write( "Is this the right way to set this up?<BR>\n" );
document.write( "Thanks for your help! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #92609 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=92609\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Let's say your random variable is \"gain\"<BR>\n" );
document.write( "Values of the random variable are : 100 , 50, 50, -2<BR>\n" );
document.write( "Corresponding probabilitis are....: 1/500,1/500,1/500,499/500<BR>\n" );
document.write( "Multiplying corresponding parts and adding you get:<BR>\n" );
document.write( "100*(1/500) + 50(1/500) + 50(1/500) - 2(499/500)<BR>\n" );
document.write( "= -1.596<BR>\n" );
document.write( "===============<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( " </SPAN>\n" );
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