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Test: Algebra II
1. |
There are two raffles that both support causes that you care about. You have $20, and want to purchase a ticket for the raffle that gives you the best odds of winning.
Raffle A supports a local charity, and has 75 tickets. Each ticket costs $15. One ticket will win a $110 prize, and the remaining tickets will win nothing.
Raffle B supports a national charity, and has 100 tickets. Each ticket costs $20. One ticket will win a $410 prize, and the remaining tickets will win nothing.
Which raffle is a better deal?
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Raffle A, with payoff of -$15.90
Raffle B, with payoff of -$15.90
Raffle B, with payoff of -$13.57
Raffle A, with payoff of -$13.57
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