Answered

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Ahmad gives his friend Juana a lottery ticket for her birthday. The ticket cost Ahmad $1, and the back of the
ticket says, "The overall odds of winning a prize with this ticket are 1 : 50, and the expected return for this
ticket is $0.50.6000000
Ahmad says, "lf 1,000 people each bought one of these tickets, they'd have spent $1,000 in total and get back
about $5,000."
Juana says, "The probability that one of these tickets wins a prize is 0.50, on average."
Whose statement is correct based on the expected value?
Choose 1 answer:
Only Ahmad's
Only Juana's
Both statements are correct.
Neither statement is correct.

Sagot :

Michell96idn

According to the information provided the statement of both people is incorrect (option D)

Ahmad's statement is false because he claims that in the situation where 1000 people spend $ 1000 on lottery tickets they would get back $ 5000. However, the recovery would be $ 500 This statement can be verified by doing the following operation:

  • 0.50 x 1000 = 500

On the other hand, Juana's statement is false because she says that people who buy a lottery ticket have a probability of winning of 0.50 on average. However, the true probability is 0.02. This statement can be checked by doing the following operation:

  • 1 ÷ 50 = 0.02

According to the above, none of the statements of the characters is true.

 

Learn more about mathematics in: https://brainly.com/question/19003099

Answer:

Neither statement is correct

Step-by-step explanation:

Got it right on Khan Academy

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