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Math Help - probability of winning

  1. #1
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    probability of winning

    A mail-in sweepstakes posts the information in the table below. There is one grand prize, ten prizes of $100,000, and one hundred prizes of $1,000.
    Probability of Winning Prize ($)
    1/20,000,000 1,000,000
    1/20,000,000 100,000
    1/1,000,000 1,000
    Enter values as dollars!
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  2. #2
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    Re: probability of winning

    and the question is?????
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  3. #3
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    Re: probability of winning

    What do you mean by "winning"? Are you asking for the probability of winning any money at all? That is \frac{1}{20000000}+ \frac{10}{20000000}+ \frac{100}{1000000}. If you want the mean value, that is a little more complicated, but not much- multiply each of those fractions by the value won, and add.
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