Asked by alma

suppose you buy a ticket for a raffle. the ticket's price is 5$ and the price tis worth 200. If 100 tickets are sold how much money do you expect to win/lose?
Answered by Steve
You have a 1/100 chance to win a $200 prize. So, your expected winnings are $2.

Not much of a return on a $5 ticket. Still, it's for a worthy cause, right? . . .