10) Suppose you were given one of thirty free tickets at the beginning of this class period. Suppose at the end of this period three tickets are drawn without replacement. The holder of the first ticket drawn wins $100, the second ticket $50, and the third ticket $30. a) Determine your expected winnings. b) If your neighbor offered to buy your ticket before drawing, what would be a "fair price"?

10) Suppose you were given one of thirty free tickets at the beginning of this class period. Suppose at the end of this period three tickets are drawn without replacement. The holder of the first ticket drawn wins $100, the second ticket $50, and the third ticket $30. a) Determine your expected winnings. b) If your neighbor offered to buy your ticket before drawing, what would be a "fair price"?

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter9: Sequences, Probability And Counting Theory

Section9.5: Counting Principles

Problem 42SE: In horse racing, a “trifecta” occurs when a bettor wins by selecting the first three finishers in...

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