Using Probability to Make Decisions Practice Test

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?

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 100 tickets. Each ticket costs $17. One ticket will win a $250 prize, and the remaining tickets will win nothing.

Raffle B supports a national charity, and has 200 tickets. Each ticket costs $19. One ticket will win a $290 prize, and the remaining tickets will win nothing.

Which raffle is a better deal?