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08-06-2020
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Please help! Correct answer only!
In a raffle, one ticket out of 250 will win a $230 prize. The rest will win nothing. If you have a ticket, what is the expected payoff?

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Please help Correct answer only In a raffle one ticket out of 250 will win a 230 prize The rest will win nothing If you have a ticket what is the expected payof class=

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osikbro osikbro

08-06-2020

Answer:

$0.92

Step-by-step explanation:

Since only one ticket out of the 250 wins a 230 dollar prize, the expected payoff is 230/250=0.92. Hope this helps!

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