SOLUTION: You buy 5 raffle tickets. What is the probabilty that you will win if 250 tickets were sold? And what are the odds?

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Question 53736This question is from textbook
: You buy 5 raffle tickets. What is the probabilty that you will win if 250 tickets were sold? And what are the odds?
 This question is from textbook

Answer by rchill(405) About Me  (Show Source):
You can put this solution on YOUR website!
Your odds of winning are 5 in 250, written as 5:250 or 5%2F250. That fraction reduces to 1%2F50, which equates to 2% chance of winning.