Final answer:
To find the expected average winnings per raffle when purchasing four tickets in a lottery, multiply the prize amount by the probability of winning and divide it by the number of tickets.
Step-by-step explanation:
To find the expected average winnings per raffle when purchasing four tickets, we need to calculate the expected value. In a lottery, the expected value is calculated by multiplying each possible outcome by its probability and summing them up. Assuming each ticket has the same chance of winning and the total amount of winnings is divided equally among the winners, the expected average winnings per raffle can be calculated as follows:
Expected Average Winnings = (Prize Amount * Probability of Winning) / Number of Tickets
Let's say the prize amount is $100,000 and the probability of winning is 0.0001 (or 1 in 10,000). If you purchase four tickets, the expected average winnings per raffle would be:
Expected Average Winnings = ($100,000 * 0.0001) / 4 = $25