SOLUTION: For a fundraiser, there is a raffle with 100 tickets. One ticket will win a $150 prize, and the rest will win nothing. If you have a ticket, what is the expected payoff? $____

Algebra ->  Sequences-and-series -> SOLUTION: For a fundraiser, there is a raffle with 100 tickets. One ticket will win a $150 prize, and the rest will win nothing. If you have a ticket, what is the expected payoff? $____       Log On


   

Question 1160743: For a fundraiser, there is a raffle with 100 tickets. One ticket will win a $150 prize, and the rest will win nothing. If you have a ticket, what is the expected payoff?
$____

The question is in the question here: https://i.imgur.com/I2ee60p.png
Answer by greenestamps(13216) About Me  (Show Source):
You can put this solution on YOUR website!


The expected payoff for one ticket is the total payout ($150) divided by the number of tickets (100).

You can do the simple arithmetic.