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A lottery is held. 100 tickets are sold for $5 each. if one ticket will win $300 and the rest win nothing, what is the average value of a ticket.
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A lottery is held. 100 tickets are sold for $5 each. if one ticket will win $300 and the rest win nothing, what is the average value of a ticket.
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Nov 7, 2017
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A lottery is held. 100 tickets are sold for $5 each. if one ticket will win $300 and the rest win nothing, what is the average value of a ticket.
Mathematics
high-school
Kiford
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depends on which way you look at it. 100 tickets at 5 is 500 total. but if your payout is 300 then divide that by 100 which is 3. So the average value of a ticket is 3 while the other 200 goes to whatever.
Valery Letroye
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Nov 12, 2017
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Valery Letroye
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