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The annual school affair is holding a raffle contest. The student bets $1 on the chance of picking a certain number on the ticket. If they get the correct ticket then they win the $1 with winnings up to $15. This pays 15 to 1. In order to figure out whether it is worth playing at all, the first step would be:
  • calculate the chances
  • figure out the percentage of people likely to win
  • calculate the chance of losing
  • make a box model
  • none of the above
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    Carlos Rodriguez <carlos@math.albany.edu>
    This problem was contributed by a student in Elementary Statistics. It is offered as it is with no warranty of any kind
    Last modified: Wed May 13 12:29:11 EDT 1998