I need to know the exact odds of winning EACH of the following.
It’s time for the Holidays and I’m holding a raffle contest. First I’ll list the raffle prizes. I’ll be giving away the following.
15 - $5 Best Buy Giftcards.
10 - $ 10 Best Buy Giftcards.
5 - $50 Best Buy Giftcards.
3 - $70 Best Buy Giftcards.
2 - $100 Best Buy Giftcards.
1 - $200 Best Buy Giftcard
2007-12-07 13:45:01 · 4 answers · asked by Anonymous in Education & Reference ➔ Homework Help
base the entries on 20
2007-12-07 13:51:34 · update #1
EDIT:
20 - $5 Best Buy Giftcards.
2007-12-07 13:52:27 · update #2
If you sold one thousand (1000) tickets for one dollar ($1) each you would make a profit of $215.00 not counting the cost of printing, shipping and handling.
These odds are based on a thousand ticket count.
15 - $5 Best Buy Giftcards. 33 1/3 to 1
10 - $ 10 Best Buy Giftcards. 100 to 1
5 - $50 Best Buy Giftcards. 200 to 1
3 - $70 Best Buy Giftcards. 333 1/3 to 1
2 - $100 Best Buy Giftcards. 500 to 1
1 - $200 Best Buy Giftcards. 1000 to 1
2007-12-07 16:31:40 · answer #1 · answered by Al L 4 · 0⤊ 0⤋
I'm not a mathematics professor, but the odds will depend on how many people buy the raffle tickets. The more people participate, the higher the odds are of winning. If only 36 people were to buy the raffle tickets, then every one of them will surely win a prize !!
2007-12-07 13:57:11 · answer #2 · answered by Corporate America !! 5 · 0⤊ 0⤋
For each prize the odds are: number of winning tickets divided by the total number of tickets printed.
PS The odds do not depend on how many tickets you sell but on how many you print.
2007-12-07 13:59:45 · answer #3 · answered by Tim C 7 · 0⤊ 0⤋
Odds of winning depend on the number of entries received.
2007-12-07 13:48:31 · answer #4 · answered by norcekri 7 · 1⤊ 0⤋