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4 years ago

6

Please help! Correct answer only!

1 answer:

makvit [3.9K]4 years ago

4 0

Answer:

<em>Expected Payoff ⇒ $ 1.50 ; Type in 1.50</em>

Step-by-step explanation:

Considering that 1 out of the 100 tickets will have a probability of winning a 150 dollar prize, take a proportionality into account;

$100 - Number of Tickets,\\1 - Number of Tickets You Can Enter,\\\\1 / 100 - Probability of Winning,\\$ 150 - Money Won,\\\\Proportionality - 1 / 100 = x / 150, where x - " Expected Payoff "\\\\1 / 100 = x / 150,\\100 * x = 150,\\\\Conclusion ; x = 1.5 dollars$

<em>Thus, Solution ; Expected Payoff ⇒ $ 1.50</em>

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3 years ago

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Step-by-step explanation:

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