Mathematics, 15.03.2020 19:53 keagank

(1 point) Prizes and the chances of winning in a sweepstakes are given in the table below.
Prize Chances
$15,000,000 1 chance in 200,000,000
$250,000 1 chance in 100,000,000
$50,000 1 chance in 10,000,000
$20,000 1 chance in 4,000,000
$900 1 chance in 100,000
A watch valued at $60 1 chance in 9,000
(a) Find the expected value (in dollars) of the amount won by one entry.

(b) Find the expected value (in dollars) if the cost of entering this sweepstakes is the cost of a postage stamp (34 cents)

Answers: 3

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(1 point) Prizes and the chances of winning in a sweepstakes are given in the table below.
Pri...