Posts Tagged ‘Problem’

Which of the following scenarios demonstrates the concept of the free-rider problem?

Thursday, April 15th, 2010

A. Public radio is funded through private donations. However, everyone can listen to it, whether or not they have donated.

B. A toll bridge requires that every car crossing the bridge pay a toll.

C. A school fundraiser raffles off a free trip to Hawaii. Anyone can buy raffle tickets, but there is only one winner.

D. The local gym offers dance lessons at a very low cost during the weekend.

Probability Word Problem (calculus) ?

Thursday, December 17th, 2009

I am having trouble with my last hw problem so any help or start is appreciated.
A service organization is selling $2 raffle tickets as part of a fundraiser. The first prize is a boat valued at $2950, second is a tent at $400. In addition to the 1st and 2nd prizes, there are 25 $20 gift cards to be given. The number of tickets sold is 300.
Find the expected net gain to the player for one play of the specific game.

Math Problem With Odds. Needs Solving!?

Sunday, December 13th, 2009

The winner of a raffle will recieve a 21-foot outboard boat. If 1000 raffle tickets were sold and you purchased 20 tickets, what are the odds against your winning the boat?
The odds are ____ to ____ (simplify your answer)


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