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Please help! Correct answer only! There is a raffle for a $380 prize. Out of 100 tickets, one ticket will win the prize, and the other tickets will win nothing. If you have a ticket, what is the expected
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Please help! Correct answer only!

There is a raffle for a $380 prize. Out of 100 tickets, one ticket will win the prize, and the other tickets will win nothing. If you have a ticket, what is the expected payoff?

Please help! Correct answer only! There is a raffle for a $380 prize. Out of 100 tickets-example-1
User Sundae
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4.6k points

1 Answer

2 votes

Answer:

$3.80

Explanation:

380/100= an expected payoff of 3.8 dollars. Hope this helps!

User Archana
by
5.5k points
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