Question

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 Sri

Answer 1

1 . ou I 1000 1 1000 1 2 2 1000 Looo and player's tacket is replaced after each Lraw A dottery offers: One Prize worth $900 Two prizes worth $500 Two prizes worth $300 four prizes worth $200 One Thousand Tickets are sold at $5 each Probability of wrining $900 a ticket is Probability of weining $500 ou weining $ 500 ou two tickets is Probability of winning & 500 on two tickets is & Probability winning & 200 om four tickets is the Theus Expectation for one one ticket is = 1 .900 + 2. Soo + 2 . 300 + 4.200 1000 1000 1000 Loco 9000 + 1000 + 600+ 800 6 1000 3300 6 = 3.3-6 1000 - $ 2.7 Dame ticket can weil more the probability renauis same, bence expectation if a person buys 4 tickets is = (- $ 2.7) x $10.8 .6 than one prize, Auswer