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Home Q & A Board Science-Related Homework Help Mathematics
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Catracho Catracho
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5 years ago Edited: 5 years ago, bio_man
An online gambling site offers a first prize of $45,000 and two second prizes of $10,000 each for registered users when they place a bet A random bet will be selected over a 24-hour period. One million bets are received in the contest Find the expected winnings if you can place one registered bet of $3 in the given period.
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#1
Educator
5 years ago
Hi Catracho

For reference, please type in the whole question as it helps reference it for future discovery. Okay, on to the solution

\((45 000 - 3)(1/1 000 000) + (10 000 - 3)(2/1 000 000) + (-3)(999 997/1 000 000) = -2.93\)

Please confirm my calculation
Catracho Author
wrote...
#2
5 years ago
Quote from: bio_man (5 years ago)
Hi Catracho For reference, please type in the whole question as it helps reference it for future discovery. Okay, on to the solution \((45 000 - 3)(1/1 000 000) + (10 000 - 3)(2/1 000 000) + (-3)(999 997/1 000 000) = -2.93\) Please confirm my calculation
It was wrong.
wrote...
#3
Educator
5 years ago Edited: 5 years ago, bio_man
I'm not sure why. I pretty much followed the solution here Undecided

Could it have been due to rounding errors? Do you have the answer?
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