Please help! Correct answer only! For a fundraiser, there is a raffle with 100 tickets. One ticket will win a $150 prize, and the rest will win nothing. If you have a ticket, what is the expected payoff?

$ ___

Expected Payoff ⇒ $ 1.50 ; Type in 1.50

Step-by-step explanation:

Considering that 1 out of the 100 tickets will have a probability of winning a 150 dollar prize, take a proportionality into account;

Thus, Solution ; Expected Payoff ⇒ $ 1.50

because linear equations are a lot simpler than quadratics equations, and linear equations formula is a lot easier to memorize. that's why i think they're harder.

this is a good question! i'll do some research and come back when i have the answer!