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Eight thousand raffle tickets are sold. One first prize of $1000, two second prizes of $750,...
20,000 raffle tickets are sold one first prize of $1000 two second prices of $500 and...
20,000 raffle tickets are sold one first prize of $1000 two second prices of $500 and three thied prizes of $100 each will be awarded with all winners selected randomly. if you purchased one ticket what are your expected growth winnings .
A school is holding a fundraising raffle. The first prize is $500, the three second prizes...
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?
John bought one of 200 raffle tickets for $10. The sponsors then randomly select one grand...
John bought one of 200 raffle tickets for $10. The sponsors then randomly select one grand prize worth $200, two second prizes worth $100 each, and three third prizes at $50 each. (a) Verify that this is a probability distribution. (b) Recognizing that John spent $10 to buy a ticket, determine the expected value of this raffle to him.
Suppose 660 raffle tickets are sold for $2 each. A prize of $1,000 will be awarded...
Suppose 660 raffle tickets are sold for $2 each. A prize of $1,000 will be awarded to one of the ticketholders. Two other ticketholders will be awarded prizes of $100 each. How much should you expect to win or lose on average if you purchase one raffle ticket? Give the answer exactly or round it to two decimal places.
4. (5 points) A raffle awards one $7000.00 prize, two $1000.00 prizes, and four $500.00 prizes....
4. (5 points) A raffle awards one $7000.00 prize, two $1000.00 prizes, and four $500.00 prizes. There are 10000 tickets sold at $3 cach. What is the expected profit a player carns from purchasing a ticket?
A local lottery costs $25 a ticket, and there are 3000 tickets sold. There is one first...
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?
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.)...
and Fourthousand talle tickets are sold for $5 each. Three prizes wil be awarded, one for...
and Fourthousand talle tickets are sold for $5 each. Three prizes wil be awarded, one for $1,500 and two for $750 Assume that the probability that any given ticket is selected for the $1,500 preis Winners do not have their ticket costs of $5 rounded to them. Jennifer purchases one of these tickets Complete parts and D the probability that wy given ticket is selected for a $750 price is 4,000 Determine Serwer's expected (Type wingetot a decimal onded to...
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...
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,...
John bought one of 200 raffle tickets for $10. The sponsors then randomly select one grand prize worth $200, two second prizes worth $100 each, and three third prizes at $50 each. (a) Verify that this is a probability distribution. (b) Recognizing that John spent $10 to buy a ticket, determine the expected value of this raffle to him.
4. (5 points) A raffle awards one $7000.00 prize, two $1000.00 prizes, and four $500.00 prizes. There are 10000 tickets sold at $3 cach. What is the expected profit a player carns from purchasing a ticket?
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.)...
and Fourthousand talle tickets are sold for $5 each. Three prizes wil be awarded, one for $1,500 and two for $750 Assume that the probability that any given ticket is selected for the $1,500 preis Winners do not have their ticket costs of $5 rounded to them. Jennifer purchases one of these tickets Complete parts and D the probability that wy given ticket is selected for a $750 price is 4,000 Determine Serwer's expected (Type wingetot a decimal onded to...
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...
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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