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mvandi

  • 3 years 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. anonymous
    • 3 years ago
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    \[\frac{10\times 500+2000-10\times n}{n}=5\] solve for \(n\)

  2. anonymous
    • 3 years 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
    • 3 years ago
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    Thanks!

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