A lottery is held. 100 tickets are sold for $5 each. if one ticket will win $300 and the rest win nothing, what is the average value of a ticket.

Question

Mathematics

Joshua Bryan

27 August, 22:26

A lottery is held. 100 tickets are sold for $5 each. if one ticket will win $300 and the rest win nothing, what is the average value of a ticket.

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Gerardo Warren · Answer 1

Depends on which way you look at it. 100 tickets at 5 is 500 total. but if your payout is 300 then divide that by 100 which is 3. So the average value of a ticket is 3 while the other 200 goes to whatever.