A raffle offers one $8000.00 prize, one $4000.00 prize, and five $1600.00 prizes. There are 5000 tickets sold at $5 each. Find the expectation if a person buys one ticket.

The expectation is  

Step-by-step explanation:

From the question we are told that  

     The first offer is  

     The second offer is  

      The third offer is  

      The number of tickets is  

      The  price of each ticket is  

Generally expectation is mathematically represented as

         given that they just offer one

 Now  

         given that they just offer one

 Now  

         given that they offer five

Hence the  expectation is evaluated as

Now given that the price for a ticket is  

The actual expectation when price of ticket has been removed is

85.560%

step-by-step explanation:

conditional probability is defined as:

p(a|b) = p(a∩b) / p(b)

in other words, the probability that a occurs, given that b has occurred = the probability that both a and b occur / the probability that b occurs.

in this example:

p(turns 64 | turns 44) = p(turns 64 & turns 44) / p(turns 44).

if someone turns 64, they must have already turned 44, so:

p(turns 64 | turns 44) = p(turns 64) / p(turns 44)

on page 42, we see that of the original 100,000, 94944 turn 44, and 81234 turn 64.   therefore:

p(turns 64 | turns 44) = 81234 / 94944

p(turns 64 | turns 44) = 0.85560

step-by-step explanation: