If he wanted the fun of playing this game and taking a chance, it was a fair price. However, if he wanted to take the grand prize, he threw his money away.
Odds of 1 out of 250 are pretty poor.
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?
2 answers
Thanks