Duplicate Question
The question on this page has been marked as a duplicate question.
Original Question
Sam bought 1 of 250 tickets selling for $2 in a game with a grand prize of $400. Was $2 a fair price to pay for a ticket to pla...Asked by Rmz
Sam bought 1 of 250 tickets selling for $2 in a game with a grand prize of $400. Was $2 a fair price to pay for a ticket to play this game?
no
no
Answers
Answered by
PsyDAG
"Fair" from whose viewpoint — the buyer or the seller? Aren't those who sell the tickets entitled to a profit for selling 250 tickets? Do they actually sell all 250 tickets?
When you invest in a 50/50 raffle, the group selling the tickets gets 50% of the proceeds rather than 20%.
This will probably make your answer less certain, but I hope it helps you understand the situation better.
When you invest in a 50/50 raffle, the group selling the tickets gets 50% of the proceeds rather than 20%.
This will probably make your answer less certain, but I hope it helps you understand the situation better.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.