Question

If there are 100 tickets to a concert and 200 fans who would like to go to the concert, each placing a slightly different value on the tickets, is it more efficient to hold an auction for the tickets or to hold a random drawing for the tickets?

Answer 1

It's more efficient to hold a random drawing because the probability is higher.

`(100)/(200) = (1)/(2)`
For every 2 person, 1 person gets to go to the concert.

Answer is 1/2 aka 0.5 aka 50%

Hope this helps. - M