1700 lottery tickets are sold for $25 each, and one grand prize of $4100 is awarded. If you purchase one ticket, find your expectation per ticket.

a 24.99 $
b -22.59 $
c 2.41 $
d 22.57 $

• expectation= prob of wining * rewards
  here,
  expectation =1/1700 * 4100 = 2.41
  but ticket cost $25 each
  now expectation here = 2.41 - 25 = -22.59(ans)
• 10 years agoHelpfull: Yes(40) No(2)
• as grand prize is of $4100
  and 1700 tickets sold
  probability of getting grand prize is $4100/1700
  each ticket cost $25
  now expectation here will be $4100/1700-25= -22.59
• 10 years agoHelpfull: Yes(6) No(8)
• expectation=probability of winning * reward of winning
  =(1/1700)*4100
  =2.41$
  100% right answer
• 10 years agoHelpfull: Yes(6) No(6)
• Please send explanation quickly
  
• 10 years agoHelpfull: Yes(1) No(3)
• expectation=probability of winning * reward of winning
  =(1/1700)*4100
  =2.41$
• 10 years agoHelpfull: Yes(1) No(2)
• Expectation= prob of wining * rewards
  here,
  expectation =1/1700 * 4100 = 2.41
  but ticket cost $25 each
  now expectation here = 2.41 - 25 = -22.59 ans
  -ve sign represents simply loosing of money per tkt
• 10 years agoHelpfull: Yes(1) No(0)
• 1/1700*4100= 2.41
  2.41-25=-22.59$
• 10 years agoHelpfull: Yes(0) No(1)
• option c.....as expectation=probability of winning *reward.
• 10 years agoHelpfull: Yes(0) No(0)
• which 1 is correct
• 10 years agoHelpfull: Yes(0) No(0)
• answer is d(22.57)
  
• 10 years agoHelpfull: Yes(0) No(0)
• expectation=probability of winning*reward
  =1/1700*4100
  =2.41$
• 10 years agoHelpfull: Yes(0) No(0)
• what is d crrt answer???????????
• 10 years agoHelpfull: Yes(0) No(0)