Quantcast

Got Homework?

Connect with other students for help. It's a free community.

  • across
    MIT Grad Student
    Online now
  • laura*
    Helped 1,000 students
    Online now
  • Hero
    College Math Guru
    Online now

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

keebler01 Group Title

Raffle tickets. One thousand raffle tickets are sold for $1 each. One prize of $800 is to be award a)Rena Condos purchases one ticket. Determine her expected value. b) Determine the fair price of a ticket.

  • 2 years ago
  • 2 years ago

  • This Question is Closed
  1. lexussmi12 Group Title
    Best Response
    You've already chosen the best response.
    Medals 1

    The probabilities are 1/1000 and 999/1000 Multiplying and add you get: 800(1/1000)+x(999/1000) = 0 800 + 999x = 0 x = -(800/999) dollars x = -0.80 dollars The price to play should be 80 cents.

    • 2 years ago
  2. lexussmi12 Group Title
    Best Response
    You've already chosen the best response.
    Medals 1

    that helps

    • 2 years ago
  3. keebler01 Group Title
    Best Response
    You've already chosen the best response.
    Medals 0

    thanks Lexussmi is that the answer!

    • 2 years ago
  4. lexussmi12 Group Title
    Best Response
    You've already chosen the best response.
    Medals 1

    yeah

    • 2 years ago
  5. keebler01 Group Title
    Best Response
    You've already chosen the best response.
    Medals 0

    thanks u so much!

    • 2 years ago
  6. lexussmi12 Group Title
    Best Response
    You've already chosen the best response.
    Medals 1

    welcome

    • 2 years ago
    • Attachments:

See more questions >>>

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.