ZuoTi.Pro
Question

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 $_______?

math   Statistics-And-Probability   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

0 0
Add a comment
Know the answer?
Add Answer to:
A lottery offers one $900 dollar prize, one $700 prize, three $300 prizes, and five $100...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 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

  • 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

  • Question 4 of 4 (1 point) 5.2 Section Exercise A lottery offers one $900 prize, two...

    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...

  • Math Statistics

    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).

  • Fall 2018 Stat 2013/2053-62857 TR 12:30 Seal Elementary Statistics: A Step-By-Step Approach, 10th Ed eBoo MATH...

    Fall 2018 Stat 2013/2053-62857 TR 12:30 Seal Elementary Statistics: A Step-By-Step Approach, 10th Ed eBoo MATH KS Corp Chapter 5 Previous 1 2 3 4 5 6 7 8 9 1 Next Question 10 of 17 (2 points) 5.2 Section Exercise 16 estion A lottery offers one $1000 prize, two $600 prizes, three $300 prizes, and four $100 prizes. One thousand tickets are sold at $5 each. Find the expectation if a person buys three tickets. Assume that the player's...

  • We have a lottery with three prizes. Two of them are $30 and the grand is...

    We have a lottery with three prizes. Two of them are $30 and the grand is $200. The total number of tickets is 70 and one for each person. No one can win more than a prize. When the tickets are pulled, the first two prizes of $30 are awarded, then the grand prize. a) how many ways we can award the prizes? b) Suppose a person has one ticket, what's the probability of winning any prize? c) If a...

  • Please show all work: A prize drawing offers one $2000 prize, two $1000 prize, two $500...

    Please show all work: 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.

  • One state lottery has 900 prizes of $1; 105 prizes of $10; 25 prizes of $65;...

    One state lottery has 900 prizes of $1; 105 prizes of $10; 25 prizes of $65; 5 prizes of $375; 2 prizes of $1,240; and 1 prize of $2,400. Assume that 33,000 lottery tickets are issued and sold for $1. Question 3 What is the lottery's expected profit per ticket? Question 4 What is the lottery's standard deviation of profit per ticket? One state lottery has 900 prizes of $1; 105 prizes of $10; 25 prizes of $65; 5 prizes...

  • 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.)

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT