Three lottery tickets for first, second, and third prizes are drawn from a group of 40 tickets. Find the number of sample points in S for awarding 3 prizes if each contestant hold only 1 ticket.
Three lottery tickets for first, second, and third prizes are drawn from a group of 40...
A local lottery costs $25 a ticket, and there are 3000 tickets sold. There is one first prize for $2000, three second prizes of $1000 each and ten third prizes of $250 each. You decide to purchase one ticket. What are your expected winnings?
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 $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.)
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...
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
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.)
A lottery has a grand prize of $80,000, five runner-up prizes of $8,000 each, eleven third-place prizes of $2000 each, and thirteen consolation prizes of $800 each. If 240,000 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 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?
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.)
math
5. A ticket is to be drawn at random from a box containing eight tickets. Each ticket should have two numbers; however, three tickets have one blank space: What numbers should go in the first, second, and third blank spaces to make the first number of the ticket drawn and the second number of the ticket drawn independent random variables?