a scratch off lottery ticket has several possible prizes. there is a 0.000005 probability of winning...
a scratch off lottery ticket has several possible prizes. there is a 0.000005 probability of winning $50000. there is a 0.00004 probability of winning $10000. there is a 0.0003 probability of winning $2000, a 0.002 probability of winning 150. each ticket costs $4, find the expected value of buying 1 ticket.
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a scratch off lottery ticket has several possible prizes. there
is a 0.000005 probability of winning...
Terry purchases 20 scratch off lottery tickets. Each ticket has a 9 % chance of winning....
Terry purchases 20 scratch off lottery tickets. Each ticket has a 9 % chance of winning. What is the probability that she has her first successful ticket on the 5 t h try? (Round to 4 decimal places) Geometric Probability
Terry purchases 23 scratch off lottery tickets. Each ticket has a 6%6% chance of winning. What...
Terry purchases 23 scratch off lottery tickets. Each ticket has a 6%6% chance of winning. What is the probability that she has her first successful ticket on the 6th try? (Round to 4 decimal places)
A lottery has a grand prize of $100,000, four runner-up prizes of $20,000 each, nine third-place...
A lottery has a grand prize of $100,000, four runner-up prizes of $20,000 each, nine third-place prizes of $2000 each, and twenty-one consolation prizes of $200 each. If 300,000 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 $ 157 ticket. (Round your answer to two decimal places.)
A school fundraiser sells scratch off tickets with the following prizes: one prize of $1000, ten...
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...
A lottery has a grand prize of $140,000, five runner-up prizes of $17,500 each, nine third-place...
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 lottery has a grand prize of $200,000, three runner-up prizes of $40,000 each, six third-place...
A lottery has a grand prize of $200,000, three runner-up prizes of $40,000 each, six third-place prizes of $5000 each, and nineteen consolation prizes of $1000 each. If 600,000 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 lottery has a grand prize of $120,000, two runner-up prizes of $15,000 each, four third-place...
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.)
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 $...
Suppose a scratch-off lottery ticket cost $1, and has the potential for a $1,000 grand prize....
Suppose a scratch-off lottery ticket cost $1, and has the potential for a $1,000 grand prize. You decide to buy one of these lottery tickets. Suppose that the random variable, X=Dollars Won, has the following probability distribution: x P(X=x) 1,000 .0001 10 1 .03 0 .95 a.) what is the probability that you will win $10? b.) how many dollars are you expected to win? c.) suppose your friend says," you will either win or loose with this ticket, that...
5. Ying has bought 50 tickets in a lottery with multiple prizes. She has checked and knows that exactly two of her tickets are winning tickets. She then put each ticket into an envelope and shuffles...
5. Ying has bought 50 tickets in a lottery with multiple prizes. She has checked and knows that exactly two of her tickets are winning tickets. She then put each ticket into an envelope and shuffles the envelopes before writing Willem's name on five of the envelopes. Let W be the number of winning tickets in the envelopes with Willem's name on a) What distribution could be used to model W7 Please name the distribution and give the parameter(s). State...
A lottery has a grand prize of $100,000, four runner-up prizes of $20,000 each, nine third-place prizes of $2000 each, and twenty-one consolation prizes of $200 each. If 300,000 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 $ 157 ticket. (Round your answer to two decimal places.)
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 $...
5. Ying has bought 50 tickets in a lottery with multiple prizes. She has checked and knows that exactly two of her tickets are winning tickets. She then put each ticket into an envelope and shuffles the envelopes before writing Willem's name on five of the envelopes. Let W be the number of winning tickets in the envelopes with Willem's name on a) What distribution could be used to model W7 Please name the distribution and give the parameter(s). State...
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