If a raffle had a mathematical expectation of -$3.25, what would that mean?
Chapter9: Sequences, Probability And Counting Theory
Section9.7: Probability
Problem 1SE: What term is used to express the likelihood of an event occurring? Are there restrictions on its...
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Transcribed Image Text:If a raffle had a mathematical expectation of -$3.25, what would that mean?
If I were to buy many tickets, then I would expect to lose $3.25
If I were to buy some tickets, then I would expect to lose a mean of $3.25 for every
ticket purchased
If I were to buy many tickets, then I would expect to lose a mean of $3.25 per ticket
purchased
If I were to buy many tickets, then I would expect to lose a mean of $3.25
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