Asked by Doris

1000 raffle tickets are sold and the winner is chosen at random there is only one prize $500 in cash you buy one ticket(a) what is the probability you will win the prize of $500 (b) your expected earnings can be found by multiplying the value of the prize by the probability you will win the prize what are your expected earnings?
Answered by anna
5 dollars
Answered by Ange
b) 500 x .001=.5
Answered by Ange
a) 1/1000= .001
There are no AI answers yet. The ability to request AI answers is coming soon!