In an auditorium with 500 people, one person will be chosen to win a $100 gift card. The rest of the people will receive a $0.25

Question

In an auditorium with 500 people, one person will be chosen to win a $100 gift card. The rest of the people will receive a $0.25 key chain.
What is the probability that you will be chosen to win the gift card?
What is the probability that you will receive a key chain?
Find the expected value.

Kunduz · Accepted Answer

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In an auditorium with 500 people, one person will be chosen to win a $100 gift card. The rest of the people will receive a $0.25 key chain. What is the probability that you will be chosen to win the gift card? What is the probability that you will receive