five thousand tickets are sold at $5 each for cultural show lottery. tickets are to be...
five thousand tickets are sold at $5 each for cultural show lottery. tickets are to be drawn at random and cash prizes are to be awarded as follows: 1 prize $500, 2 prizes $100, 3 prizes $50. What is the expected value of this lottery if you buy 1 ticket
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five thousand tickets are sold at $5 each for cultural show
lottery. tickets are to be...
one thousand raffle tickets are sold at $1 each. 3 tickets will be drawn at random...
one
thousand raffle tickets are sold at $1 each. 3 tickets will be
drawn at random finite
One thousand raffle tickets are sold at $1 each. Three tickets will be drawn at random (without replacement), and each will pay $191. Suppose you buy 5 gats. (A) Create a payoff table for 0, 1, 2, and 3 winning tickets among the 5 tickets you purchased. (If you do not have any winning tickets, you lose $5. If you have 1 winning...
A raffle sells 10,000 tickets. Each ticket is sold for $50. Below is a list of...
A raffle sells 10,000 tickets. Each ticket is sold for $50. Below is a list of prizes and the number of that type of prize. 1 Grand Prize: Toyota Yaris - Value: $17,750 100 Second place prizes: Nintendo Switch with Games: $500 1000 Third Place Prizes: A Box of Frosted Lucky Charms: $4 How much money do the organizers of the event expect to make for every ticket they sell? Note: This question is asking you to find the expected...
A lottery offers one $900 dollar prize, one $700 prize, three $300 prizes, and five $100...
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 $_______?
Eight thousand raffle tickets are sold. One first prize of $1000, two second prizes of $750,...
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 lottery offers one S1000 prize, one S500 prize, two $300 prizes, and five $100 prizes....
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 has a $10 000 000 grand prize, a $500 000 second prize, and ten...
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...
One thousand raffle tickets are sold at $1 each. Three tickets will be drawn at random...
One thousand raffle tickets are sold at $1 each. Three tickets will be drawn at random (without replacement), and each will pay $198. Suppose you buy 5 tickets. (A) Create a payoff table for 0, 1, 2, and 3 winning tickets among the 5 tickets you purchased. (If you do not have any winning tickets, you lose $5, if you have 1 winning ticket, you net $193 since your initial $5 will not be returned to you, and so on.)...
Question 6 of 29 (1 point) 5.2 Section Exercise A lottery offers one $900 prize, one...
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
You buy a lottery ticket to a lottery that costs $10 per ticket. There are only...
You buy a lottery ticket to a lottery that costs $10 per ticket. There are only 100 tickets available to be sold in this lottery. In this lottery there are one $405 prize, two $105 prizes, and four $20 prizes. Find your expected gain or loss. (Round your answer to two decimal places.)
8.5.43 Question Help One thousand raffle tickets are sold at $1 each. Three tickets will be...
8.5.43 Question Help One thousand raffle tickets are sold at $1 each. Three tickets will be drawn at random (without replacement), and each will pay $205. Suppose you buy 5 tickets. (A) Create a payoff table for 0, 1, 2, and 3 winning tickets among the 5 tickets you purchased. (If you do not have any winning tickets, you lose $5, if you have 1 winning ticket, you net $200 since your initial $5 will not be returned to you,...
one
thousand raffle tickets are sold at $1 each. 3 tickets will be
drawn at random finite
One thousand raffle tickets are sold at $1 each. Three tickets will be drawn at random (without replacement), and each will pay $191. Suppose you buy 5 gats. (A) Create a payoff table for 0, 1, 2, and 3 winning tickets among the 5 tickets you purchased. (If you do not have any winning tickets, you lose $5. If you have 1 winning...
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 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 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...
One thousand raffle tickets are sold at $1 each. Three tickets will be drawn at random (without replacement), and each will pay $198. Suppose you buy 5 tickets. (A) Create a payoff table for 0, 1, 2, and 3 winning tickets among the 5 tickets you purchased. (If you do not have any winning tickets, you lose $5, if you have 1 winning ticket, you net $193 since your initial $5 will not be returned to you, and so on.)...
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
8.5.43 Question Help One thousand raffle tickets are sold at $1 each. Three tickets will be drawn at random (without replacement), and each will pay $205. Suppose you buy 5 tickets. (A) Create a payoff table for 0, 1, 2, and 3 winning tickets among the 5 tickets you purchased. (If you do not have any winning tickets, you lose $5, if you have 1 winning ticket, you net $200 since your initial $5 will not be returned to you,...
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