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mvandi

  • one year ago

A raffle ticket costs $10. 10 tickets net $500 and one ticket nets $2,000. The expected value of a ticket is $5. How many tickets were sold?

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  1. satellite73
    • one year ago
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    \[\frac{10\times 500+2000-10\times n}{n}=5\] solve for \(n\)

  2. satellite73
    • one year ago
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    i hope it is clear how to solve the expected value is the amount you get times the probability you get it, added up i.e. the average payoff over all the tickets

  3. mvandi
    • one year ago
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    Thanks!

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