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Raffle Ticket Expected Value Calculation by Roshan Malhotra is a document available to read on EtoBox.
What is Raffle Ticket Expected Value Calculation about?
The document discusses calculating the expected value of a raffle ticket. It contains the following information: 1. There is a raffle with 1000 tickets sold for $2 each. 2. The prizes are: one $1000 prize, three $100 prizes, and five $20 prizes. 3. To calculate the expected value, the poster takes the sum of the prize amounts multiplied by their probability of winning, plus the cost of the ticket multiplied by the probability of losing. 4. A commenter responds that the calculation is not quite right,
- Author
- Roshan Malhotra
- Language
- EN