Whar are the odds for a ticket winning? What are the odds against a ticket winning? b) What is the probability that any particular ticket will win? Write this as a fraction, then a decimal, then a percent. c) How would you calculate the fair price of a ticket? What is the fair price for a ticket?
Whar are the odds for a ticket winning? What are the odds against a ticket winning? b) What is the probability that any particular ticket will win? Write this as a fraction, then a decimal, then a percent. c) How would you calculate the fair price of a ticket? What is the fair price for a ticket?
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 4ECP: Show that the probability of drawing a club at random from a standard deck of 52 playing cards is...
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Raffles are gambles with computable probabilities. Tickets are sold, and then some are chosen at random to win prizes. Consider a raffle run by a parent teacher organization (PTO) Suppose the PTO sells 500 tickets and that they offer a prize of $1000 to one winner.
a) Whar are the odds for a ticket winning? What are the odds against a ticket winning?
b) What is the probability that any particular ticket will win? Write this as a fraction, then a decimal, then a percent.
c) How would you calculate the fair price of a ticket? What is the fair price for a ticket?
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