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Let’s compare two different raffles to see which ticket you should buy?
A. Raffle...
Mathematics, 07.05.2021 21:50 clairajogriggsk
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Let’s compare two different raffles to see which ticket you should buy?
A. Raffle 1: 800 raffle tickets are sold $2.00 each. There is one gran prize for $450 and two consolation prizes of $100 each that will be awarded. What is the expected value of one ticket?
B. Raffle 2: 350 raffle tickets are sold for $2.00 each. There is one grand prize of $150 and three consolation prizes of $50 each. What is the expected value of one ticket?
Answers: 3
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