Probability question

WillyNelson

WillyNelson

WillyNelson

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Joined
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Does a 1/5 chance have the same probability of a 5/25 chance? For example, if you have 5 raffle tickets out of 25 total tickets, is your chance of winning the same as if you had 1 ticket of 5?

I think it is because it's only 1 event, but part of me is not so sure.
 
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If there is only one winning ticket drawn, then 1:5 and 5:25 are the same.

If there is more than one winning ticket being drawn, then it is better to have 5:25 rather than 1:5.
 
If we're sticking with the raffle example, there's also an assumption about whether all of the tickets sell :p.
 
It also depends on the order prizes are drawn, if there are multiple prizes. Most raffles draw minor prizes first and the biggy last. If you're defining the chance of success as the probability of winning the large prize, your chance of winning is less than (your number of tickets)/(total number of sold tickets). As there is a chance you'll win a minor prize and you ticket will be removed and not therefore eligable for the biggy. Minor, by slightly interesting point if you're sad like me ;)
 
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