Question Help For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) .
(b) To the nearest million, how much should the grand prize be so that you can expect a profit? Assume nobody else wins so that you do not have to share the grand prize.
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Question Help For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities
For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with...
For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) below. X (cash prize, $) Grand prize 200,000 10,000 100 P(x) 0.00000000877 0.00000023 0.000001734 0.000147996 0.004260186 0.008970789 .01261213 0.97400692623 4 3 0 0 (a) If the grand prize is $13,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from one ticket? The expected cash prize is $...
The blank is the question I'm confused about. Thanks. For a multistate lottery, the following probability...
The blank is the question I'm confused about. Thanks.
For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) below. X (cash prize, $) Grand prize 200,000 10,000 100 P(x) 0.00000000676 0.00000022 0.000001704 0.000161431 0.003017618 0.007129053 0.01681958 0.97287038724 4 3 0 OB. On average, you will profit $0.27 per lottery ticket. O C. You will win $0.27 on every lottery ticket. The expected profit from one...
homework help please P(x) For a multistate lottery, the following probability x (cash prize, distribution represents...
homework help please
P(x) For a multistate lottery, the following probability x (cash prize, distribution represents the cash prizes of the lottery Grand prize with their corresponding probabilities. Complete parts 200,000 (a) through (c) below. 10,000 100 0.00000000562|| 0.00000012 0.000001831 10 000156178 0.005556668 0.008631032 0.01493052 0.97072364538 Question Viewer (a) If the grand prize is $13,000,000 find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from one ticket? The expected cash prize is...
For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities.
For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) below.
3. The following table lists the probability distribution for cash prizes in a lottery conducted at Lawsons Departm...
3. The following table lists the probability distribution for cash prizes in a lottery conducted at Lawsons Department Store; Prize(S) Probability 0.45 0.30 100 0.20 500 0.05 If you buy a single ticket, what is the probability that you will win: 10 a. Exactly $100? b. At least $10? c. No more than $100? d. Compute the mean, variance, and standard deviation of this distribution. 4. In a binomial situation, n = 4 and p = 0.25. Determine the probabilities...
Lottery: I buy one of 400 raffle tickets for $10. The sponsors then randomly select 1...
Lottery: I buy one of 400 raffle tickets for $10. The sponsors then randomly select 1 grand prize worth $800, then 2 second prizes worth $300 each, and then 3 third prizes worth $100 each. The selections are made without replacement. (a) Complete the probability distribution for this raffle. Give your probabilities as a decimal (rounded to 4 decimal places) or as a fraction. Outcomes P(x) Win Grand Prize Win a Second Prize Win a Third Prize Win Nothing (b)...
q1: Complete the following probability distribution table: x p(x) -7 0.22 -4 0.18 -1 0.15 23...
q1: Complete the following probability distribution table: x p(x) -7 0.22 -4 0.18 -1 0.15 23 0.15 32 57 0.22 Q2: The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 700 tickets. There is one $1,000 grand prize, two $300 second prizes, and eleven $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
Lottery: I buy one of 250 raffle tickets for $10. The sponsors then randomly select 1...
Lottery: I buy one of 250 raffle tickets for $10. The sponsors then randomly select 1 grand prize worth $300, 2 second prizes worth $100 each, and 3 third prizes worth $50 each. Below is the discrete probability distribution for this raffle. Prize P(x) Grand 1/250 Second 2/250 Third 3/250 None 244/250 (a) Recognizing that I spent $10 to buy a ticket, determine the expected value of this raffle to me as a player. Round your answer to the nearest...
please help with all. In the following probability distribution, the random variable x represents the number...
please help with all.
In the following probability distribution, the random variable x represents the number of activities a parent of a 6th-to 8th grade student is involved in. Complete parts (a) through (1) below. * 1 0 1 2 3 4 5 P(x) 0.269 0 206 0.224 0.239 0.062 (a) Verify that this is a discrete probability distribution This is a discrete probability distribution because the sum of the probabilities is and each probability is (6) Graph the discrete...
In the probability distribution to the right, the random variable X represents the number of marriages...
In the probability distribution to the right, the random variable X represents the number of marriages an individual aged 15 years or older has been involved in. Complete parts (a) through (0) below 0 0.278 10.573 3 0.027 4 0.004 5 0.001 (a) Verify that this is a discrete probability distribution. This is a discrete probability distribution because theof the probabilities is (Type whole numbers. Use ascending order) (b) Draw a graph of the probability distribution Describe the shape of...
For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) below. X (cash prize, $) Grand prize 200,000 10,000 100 P(x) 0.00000000877 0.00000023 0.000001734 0.000147996 0.004260186 0.008970789 .01261213 0.97400692623 4 3 0 0 (a) If the grand prize is $13,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from one ticket? The expected cash prize is $...
The blank is the question I'm confused about. Thanks.
For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) below. X (cash prize, $) Grand prize 200,000 10,000 100 P(x) 0.00000000676 0.00000022 0.000001704 0.000161431 0.003017618 0.007129053 0.01681958 0.97287038724 4 3 0 OB. On average, you will profit $0.27 per lottery ticket. O C. You will win $0.27 on every lottery ticket. The expected profit from one...
homework help please
P(x) For a multistate lottery, the following probability x (cash prize, distribution represents the cash prizes of the lottery Grand prize with their corresponding probabilities. Complete parts 200,000 (a) through (c) below. 10,000 100 0.00000000562|| 0.00000012 0.000001831 10 000156178 0.005556668 0.008631032 0.01493052 0.97072364538 Question Viewer (a) If the grand prize is $13,000,000 find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from one ticket? The expected cash prize is...
For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) below.
3. The following table lists the probability distribution for cash prizes in a lottery conducted at Lawsons Department Store; Prize(S) Probability 0.45 0.30 100 0.20 500 0.05 If you buy a single ticket, what is the probability that you will win: 10 a. Exactly $100? b. At least $10? c. No more than $100? d. Compute the mean, variance, and standard deviation of this distribution. 4. In a binomial situation, n = 4 and p = 0.25. Determine the probabilities...
please help with all.
In the following probability distribution, the random variable x represents the number of activities a parent of a 6th-to 8th grade student is involved in. Complete parts (a) through (1) below. * 1 0 1 2 3 4 5 P(x) 0.269 0 206 0.224 0.239 0.062 (a) Verify that this is a discrete probability distribution This is a discrete probability distribution because the sum of the probabilities is and each probability is (6) Graph the discrete...
In the probability distribution to the right, the random variable X represents the number of marriages an individual aged 15 years or older has been involved in. Complete parts (a) through (0) below 0 0.278 10.573 3 0.027 4 0.004 5 0.001 (a) Verify that this is a discrete probability distribution. This is a discrete probability distribution because theof the probabilities is (Type whole numbers. Use ascending order) (b) Draw a graph of the probability distribution Describe the shape of...
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