Mathematics, 08.12.2019 07:31 leo4687
At a raffle, 1000 tickets are sold for $5 each. there are 20 prizes of $25, 5 prizes of $100, and 1 grand prize of $2000. suppose you buy one ticket. 1. use the table below to you construct a probability distribution for all of the possible values of x and their probabilities.
2. find the mean (expected value) of your net gain x, and interpret what this value means in the context of the game.
3. if you play in such a raffle 100 times, what is the expected value of your net gain? (hint: use your answer from #2.)
4. what ticket price would make it a fair game? (the game is “fair” if the money is balanced so that neither side, the players or the organizers of the raffle, wins/loses money on average.)
5. would you choose to play the game? in complete sentences, explain why or why not.
6. if you were organizing a raffle like this, how might you adjust the ticket price and/or prize amounts in order to make the raffle more tempting while still raising at least $2000 for your organization?
Answers: 2
Mathematics, 21.06.2019 14:00, cami30031cami3003
Which pair of lines is parallel? a. y=4x+1 and y+4=5 b. y=-2+x and 2y-2x=-2 c. y=1/4x + 2 and y-2=1/2x d. y=1/5x+1 and 5y+x= 10
Answers: 2
Mathematics, 21.06.2019 20:30, janeou17xn
Peter applied to an accounting firm and a consulting firm. he knows that 30% of similarly qualified applicants receive job offers from the accounting firm, while only 20% of similarly qualified applicants receive job offers from the consulting firm. assume that receiving an offer from one firm is independent of receiving an offer from the other. what is the probability that both firms offer peter a job?
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