4. At a local fundraising, you can purchase a ticket for $5, and select 3 numbers...

Question

Question

4. At a local fundraising, you can purchase a ticket for $5, and select 3 numbers in any order from 1 to 20. The fundraisers also select 3 numbers. If you have all 3 winning numbers, then you win $50. If you have exactly 2 winning numbers, then you win $10. And finally, if you have exactly 1 winning number, then you win $5. (a) (6 points) Complete the table below. The Number of The Amount of The Probablity of Net Gain In Reduced Fraction Winning Numbers Net Gain 3 0 nlog (b) (3 points) Use your calculator to find the expected value per ticket. bn (e) (3 points) Are the fundralsers making or losing money per ticket sold? Bx- plain. 03 10

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

a) uhon p (aching 3 out of 3) Ituo เว 380 as зу 2 on ae is winnng amount of het 3 llo 17 380 2 3 3 --2.72 is 2.12 (amount 어 he gain (*) is natal;ve)

Add a comment

Answer 2

Similar Homework Help Questions

in a certain lottery, you must correctly select 4 numbers (in any order) out of 35...

in a certain lottery, you must correctly select 4 numbers (in any order) out of 35 to win. You purchase one lottery ticket. What is the probability thaf you will win? 3.4.49 In a certain lottery, you must correctly select 4 numbers in any order) out of 35 to win. You purchase one lottery ticket. What is the probability that you will win? The probability of winning is (Unescientific notation. Use the multiplication symbol in the math palette as needed....
Suppose you purchase one California SuperLotto Plus lottery ticket. Here's how to play: Pick five numbers...

Suppose you purchase one California SuperLotto Plus lottery ticket. Here's how to play: Pick five numbers from 1 to 47 (no repeats allowed) and then pick one Mega number from 1 to 27. a. Find the probability you get the Mega number, but none of your five numbers match the winning numbers. b. Find the probability you get the Mega number and exactly two of your five numbers match the winning numbers. c. Find the probability you get the Mega...
In a certain lottery, you must select 5 numbers (in any order) out of 33 correctly...

In a certain lottery, you must select 5 numbers (in any order) out of 33 correctly to win. a. How many ways can 5 numbers be chosen out of 33 numbers? b. You purchase one lottery ticket. What is the probability of winning?

In the lottery game Fantasy 5 you have to select 5 numbers from the numbers {1,2,3,.......,38,39}....

In the lottery game Fantasy 5 you have to select 5 numbers from the numbers {1,2,3,.......,38,39}. The jackpot today is $76,000. Each ticket costs $1. In this lottery each number must be different and the order of the numbers does not matter. a.) What is the probability of having a winning ticket? b.) What is the expected value of this game? c.) A fair game has an expected value of 0. How large does the jackpot have to be for...
5 (5) (15 points) Consider a simplified roulette with 3 numbers where the player is not...

5 (5) (15 points) Consider a simplified roulette with 3 numbers where the player is not betting on a specific number at each turn of the wheel but is winning or losing a fixed amount of money depending on which of the 3 numbers occurs. The roulette can be switched between two states A and B. The operator of the wheel is likely to select state A with probability 0.7 and state B with probability 0.3. When in state A...
The Powerball lottery is played twice each week in 44 states, the District of Columbia, and the Virgin Islands. To play Powerball, a participant must purchase a $2 ticket, select five numbers from the digits 1 through 69, and then select a Powerball numbe

The Powerball lottery is played twice each week in 44 states, the District of Columbia, and the Virgin Islands. To play Powerball, a participant must purchase a $2 ticket, select five numbers from the digits 1 through 69, and then select a Powerball number from the digits 1 through 26. To determine the winning numbers for each game, lottery officials draw 5 white balls out a drum of 69 white balls numbered 1 through 69 and 1 red ball out...

how do you solve with work? 3. Uncle Sam invites you to draw a card from...

how do you solve with work? 3. Uncle Sam invites you to draw a card from a full deck of playing cards. You must pay $2 to play but you have a chance to win $13 if you draw an ace. (a) (4 points) Complete the following table for the house. P(2), your net winning probability of your net winning (b) (2 points) Find the expected value for each draw for the house. (b) 4. You pay $5 and select...
Double checking my answers a-f and need help with g-j 2. Consider a city sponsored lottery...

Double checking my answers a-f and need help with g-j 2. Consider a city sponsored lottery that you select different numbers in any order C) (5 points) Lett be the number of winning wmber that you have, and Pr) be the probability of winning numbers. a) (2 points) How many ways can you select numbers 344 (a) 636 (b) (2 points) How many W Note: You Can you see I winning numbers mumbers at all time (c) (2 points) What...
be the number of winning numbers that you have, and winning numbers. Pla) be the probability...

be the number of winning numbers that you have, and winning numbers. Pla) be the probability of P(z) Pa) Answers Using n Fraction Only 2 0 (b) (2 points) Use your calculator to find the mean μ (i) (2 points) Use your calculator to find the standard deviation σ. (j) (3 points) Use your calculator to find the exact value for the variance reduced fraction. ơ2 in 6)

In a raffle, you can pay $10 to select a three-digit number from 000 through 199....

In a raffle, you can pay $10 to select a three-digit number from 000 through 199. If you select the same sequence of three digits that are drawn, you win and collect $100 otherwise you get nothing. a. How many different selections are possible? b. What is the probability of winning? c. If you win, what is your net profit? d. Complete the table below to find the expected value of this raffle Event X P(X) X*P(X) Win(net gain) Lose...

4. At a local fundraising, you can purchase a ticket for $5, and select 3 numbers...

Homework Answers

Add Answer to:
4. At a local fundraising, you can purchase a ticket for $5, and select 3 numbers...

Post as a guest

Earn Coins

in a certain lottery, you must correctly select 4 numbers (in any order) out of 35...

Suppose you purchase one California SuperLotto Plus lottery ticket. Here's how to play: Pick five numbers...

In a certain lottery, you must select 5 numbers (in any order) out of 33 correctly...

In the lottery game Fantasy 5 you have to select 5 numbers from the numbers {1,2,3,.......,38,39}....

5 (5) (15 points) Consider a simplified roulette with 3 numbers where the player is not...

The Powerball lottery is played twice each week in 44 states, the District of Columbia, and the Virgin Islands. To play Powerball, a participant must purchase a $2 ticket, select five numbers from the digits 1 through 69, and then select a Powerball numbe

how do you solve with work? 3. Uncle Sam invites you to draw a card from...

Double checking my answers a-f and need help with g-j 2. Consider a city sponsored lottery...

be the number of winning numbers that you have, and winning numbers. Pla) be the probability...

In a raffle, you can pay $10 to select a three-digit number from 000 through 199....

4. At a local fundraising, you can purchase a ticket for $5, and select 3 numbers...

Homework Answers

Add Answer to: 4. At a local fundraising, you can purchase a ticket for $5, and select 3 numbers...

Post as a guest

Earn Coins

Add Answer to:
4. At a local fundraising, you can purchase a ticket for $5, and select 3 numbers...