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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.
Please show all work: A prize drawing offers one $2000 prize, two $1000 prize, two $500...
A lottery offers one S1000 prize, one S500 prize, two $300 prizes, and five $100 prizes. One thousand tickets are sold at S6 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 S
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...
20,000 raffle tickets are sold one first prize of $1000 two second prices of $500 and three thied prizes of $100 each will be awarded with all winners selected randomly. if you purchased one ticket what are your expected growth winnings .
A lottery has a $10 000 000 grand prize, a $500 000 second prize, and ten $50 000 third prizes. A ticket costs $5, and 4 000 000 tickets were sold. a) What is the expected value of each ticket? b) Using the results of this question and of Example 3, are lottery tickets a good investment? c) How could the lottery be adjusted to make buying a ticket more attractive? Example 3: Expected Value A hospital is having a...
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).
A school is holding a fundraising raffle. The first prize is $500, the three second prizes are $100 each, and the five third prizes are $50 each. A total of 2000 tickets were sold at $5.00 each. What is the expected payout per ticket? What price should have been charged to have a 90% profit per ticket?
Eight thousand raffle tickets are sold. One first prize of $1000, two second prizes of $750, and three third prizes of $200 each will be awarded, with al winners selected randomly. If you purchased one ticket, what are your expected gross winnings? The expected gross winnings are cents. (Round your answer to the nearest whole cent) le
A school fundraiser sells scratch off tickets with the following prizes: one prize of $1000, ten prizes of $50, twenty prizes of $25, and five hundred prizes of $1. There are 5000 tickets printed to be sold for $1 each. 1. Fill in the probability distribution table below. Outcome __________ __________ __________ __________ __________ Probability __________ __________ __________ __________ __________ 2. Find the expected value. (The average winning amount.) 3. Find the standard deviation of the winning amount. 4. What...