Mathematics, 11.06.2020 21:57 kobiemajak

Five thousand tickets are sold at $1 each for a charity raffle. Tickets are to be drawn at random and monetary prizes awarded as follows: 1 prize of $ 500 500, 3 prizes of $ 200 200, 5 prizes of $ 10 10, and 20 prizes of $5. What is the expected value of this raffle if you buy 1 ticket?

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Answer from: fazeyeezy004

The expected value of this raffle per ticket is $ 0.25.

Given that five thousand tickets are sold at $ 1 each for a charity raffle, and tickets are to be drawn at random and monetary prizes awarded as follows: 1 prize of $ 500, 3 prizes of $ 200, 5 prizes of $ 10, and 20 prizes of $ 5, to determine what is the expected value of this raffle if you buy 1 ticket, the following calculation must be performed:

(500 + 3 x 200 + 5 x 10 + 20 x 5) / 5000 = X (500 + 600 + 50 + 100) / 5000 = X 1250/5000 = X 0.25 = X

Therefore, the expected value of this raffle per ticket is $ 0.25.

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Answer from: Jrstx333

-$0.75

Step-by-step explanation:

For calculation of expected value first we need to find out the probability distribution for this raffle which is shown below:-

Amount Probability

500 - 1 = $499 1 ÷ 5,000

200 - 1 = $199 3 ÷ 5,000

10 - 1 = $9 5 ÷ 5,000

5 - 1 = $4 20 ÷ 5,000

-$1 5,000 - 29 ÷ 5,000 = 4,971 ÷ 5,000

Now, the expected value of raffle will be

$= \$499 \times (\frac{1}{5,000}) + \$199 \times (\frac{3}{5,000}) + \$9 \times (\frac{5}{5,000}) + \$4 \times (\frac{20}{5,000}) - \$1 \times (\frac{4,971}{5,000})$

= 0.0998 + 0.1194 + 0.009 + 0.016 - 0.9942

= -$0.75

Answer from: Quest

the population of other specie of birds will decline or other specie of birds will find some alternate source of food to survive.

explanation:

according to the competitive exclusion principle, which is also known as gause's law, two specie living in the same niche and feeding on the same resource cannot co-exist stably.

as we have well studied the theory of natural selection which states that only those organisms survive which have better tendency to compete for food and adapt to the environmental conditions.

coming towards the question, what wi ll happen when one species outcompetes the other for the small fish , the other specie will not get enough food and will start to die or decline in population. eventually either other specie needs to find another alternative food source for itself or migrate at some other location where there is less competition otherwise it will just not exist anymore at that niche.

hope it !

Answer from: Quest

answer: its the third option.

step-by-step explanation:

i just took the test.

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Five thousand tickets are sold at $1 each for a charity raffle. Tickets are to be drawn at random an...