anonymous
  • anonymous
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.
Mathematics
katieb
  • katieb
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get this expert

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this
and thousands of other questions

anonymous
  • anonymous
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.
anonymous
  • anonymous
http://www.algebra.com/algebra/homework/Probability-and-statistics/Probability-and-statistics.faq.question.126791.html
anonymous
  • anonymous
that helps

Looking for something else?

Not the answer you are looking for? Search for more explanations.

More answers

anonymous
  • anonymous
thanks Lexussmi is that the answer!
anonymous
  • anonymous
yeah
anonymous
  • anonymous
thanks u so much!
anonymous
  • anonymous
welcome

Looking for something else?

Not the answer you are looking for? Search for more explanations.