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ONE HUNDRED LOTTERY TICKETS ARE SOLD FOR $5.00 EACH. ONE PRIZE OF $300 WILL BE AWARDED. STEVE PURCHASES ONE TICKET. FIND HIS EXPECTATION.
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ONE HUNDRED LOTTERY TICKETS ARE SOLD FOR $5.00 EACH. ONE PRIZE OF $300

WILL BE AWARDED. STEVE PURCHASES ONE TICKET. FIND HIS EXPECTATION.

User Obayhan
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5.1k points

1 Answer

4 votes
1/100 tickets = 1% chance = 0.01
$5 spent on 1 ticket

0.01(300) - 5
3-5
-$2
User Catherine Holloway
by
5.1k points
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