A lottery offers one S1000 prize, one S500 prize, two $300 prizes, and five $100 prizes....
A lottery offers one $900 dollar prize, one $700 prize, three $300 prizes, and five $100 prizes. One thousand tickets are sold at $5 each. Find the expectation if a person buys two tickets. Assume that the player's ticket is replaced after each draw and that the same ticket can win more than one prize. Round to two decimal place for currency problems. The expectation if a person buys two tickets is $_______?
Question 6 of 29 (1 point) 5.2 Section Exercise A lottery offers one $900 prize, one $500 prize, three $300 prizes, and five $100 prizes. One thousand tickets are sold at $7 each. Find the expectation if a person buys three tickets. Assume that the player's ticket is replaced after each draw and that the same ticket can win more than one prize. Round to two decimal places for currency problems. The expectation if a person buys three tickets is
Question 4 of 4 (1 point) 5.2 Section Exercise A lottery offers one $900 prize, two $500 prizes, two $300 prizes, and four $200 prizes. One thousand tickets are sold at $5 each. Find the expectation if a person buys four tickets. Assume that the player's ticket is replaced after each draw and that the same ticket can win more than one prize. Round to two decimal places for currency problems. The expectation if a person buys four tickets is...
Lottery Prizes A lottery offers one $900 prize, two $700 prizes, three $300 prizes, and five $200 prizes. One thousand tickets are sold at $6 each. Find the expectation if a person buys four tickets. Assume that the player's ticket is replaced after each draw and that the same ticket can win more than one prize. Round to two decimal places for currency problems. The expectation if a person buys four tickets is dollar(s).
Fall 2018 Stat 2013/2053-62857 TR 12:30 Seal Elementary Statistics: A Step-By-Step Approach, 10th Ed eBoo MATH KS Corp Chapter 5 Previous 1 2 3 4 5 6 7 8 9 1 Next Question 10 of 17 (2 points) 5.2 Section Exercise 16 estion A lottery offers one $1000 prize, two $600 prizes, three $300 prizes, and four $100 prizes. One thousand tickets are sold at $5 each. Find the expectation if a person buys three tickets. Assume that the player's...
Please show all work: A prize drawing offers one $2000 prize, two $1000 prize, two $500 prizes, and five $100 prizes. 3000 tickets are sold at $5 each. Find the expected value of a person that buys one ticket.
We have a lottery with three prizes. Two of them are $30 and the grand is $200. The total number of tickets is 70 and one for each person. No one can win more than a prize. When the tickets are pulled, the first two prizes of $30 are awarded, then the grand prize. a) how many ways we can award the prizes? b) Suppose a person has one ticket, what's the probability of winning any prize? c) If a...
A lottery has a grand prize of $140,000, five runner-up prizes of $17,500 each, nine third-place prizes of $3500 each, and twenty-three consolation prizes of $280 each. If 420,000 tickets are sold for $1 each and the probability of any one ticket winning is the same as that of any other ticket winning, find the expected return on a $1 ticket. (Round your answer to two decimal places.)
A school carnival offers a lottery and other games of chance. All people attending the carnival are entered into the lottery when they pay the admission fee. The numbered lottery tickets are placed in a bowl, mixed, and removed one at a time from the bowl ("drawn") by a disinterested person. The person holding the ticket with the chosen number wins a prize. The lottery numbers chosen are not returned to the bowl until the final drawing (see Table 1-1...
A lottery has a grand prize of $120,000, two runner-up prizes of $15,000 each, four third-place prizes of $6000 each, and eight consolation prizes of $1200 each. If 480,000 tickets are sold for $1 each and the probability of any one ticket winning is the same as that of any other ticket winning, find the expected net winnings on a $1 ticket. (Round your answer to two decimal places.)