Suppose you buy 1 ticket for $1 out of a lottery of 3000 tickets. If the prize for the one winning
ticket is to be $500, what are your expected winnings?
3 answers
it depends on the amount of ppl who would win
it depends on the amount of ppl who would win
and
and
From your data, you have a 1/3000 chance of winning $500 and a 2999/3000 chance of winning nothing.
1 answer