Please help! Correct answer only! For a fundraiser, there is a raffle with 100 tickets. One ticket will win a $150 prize, and the rest will win nothing. If you have a ticket, what is the expected payoff?

$ ___

Expected Payoff ⇒ $ 1.50 ; Type in 1.50

Step-by-step explanation:

Considering that 1 out of the 100 tickets will have a probability of winning a 150 dollar prize, take a proportionality into account;

Thus, Solution ; Expected Payoff ⇒ $ 1.50

0.16 or 16%

step-by-step explanation:

lets take a coin for example.

if you toss it twice, it has a 1/4 chance of landing on heads both times because 1/2 * 1/2 is 1/4.

with the cards, the chance of picking dog is 0.4. having two people pick one is like picking a card twice in a row. so 0.4 * 0.4 is 0.16, or 16%

rick has $1400 and sally has $1500

step-by-step explanation:

to find amount of money rick has after 10 years :

principal = $1000 , time = 10 years , rate = 4% annually

to find amount of money sally has after 10 years :

her friend gives to pay her $50 per year, therefore money she has after 10 years = 50 × 10 = $500

also, sally gets $1000 after 10 years,

therefore, total amount of money sally has after 10 years = 500 + 1000 = $1500

so, after 10 years : rick has $1400 and sally has $1500