Answer: 0.05412
Step-by-step explanation:
Formula : Odds of having an event is given by , where p = probability that event happens.
In terms to find p , we use
Given, he back of the ticket lists the odds of winning each dollar value: 0.05 for $10, 0.04 for $25, 0.01 for $50, and 0.003 for $100.
Let X be the worth of ticket.
Then, the probability that the ticket is worth at least $25 =
The odds that the ticket is worth at least $25 =
=0.05412
hence, the odds that the ticket is worth at least $25 is <u>0.05412 .</u>