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40. Ten thousand raffle tickets are sold at $2 each for a local library benefit. Prizes are awarded as follows: 2 prizes of $1,000, 4 prizes of $500, and 10 prizes of $100. What is the expected value of this raffle if you purchase 1 ticket?

40. Ten thousand raffle tickets are sold at $2 each for a local library benefit. Prizes are awarded as follows: 2 prizes of $1,000, 4 prizes of $500, and 10 prizes of $100. What is the expected value of this raffle if you purchase 1 ticket?

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Please help with #40
ose $10 if a up. How much turns up in order ose $3 if 3 heads -3 if 0 heads ap- head appears s in ck. If the card $1. What is the eck. If the card is se $4. What is the card deck. If the 0; otherwise, you game? card deck. you win $10; ed value of the A₁ or A₂, is given ce the largest 37. A game has an expected value to you of $100. It costs $100 to play, but if you win, you receive $100,000 (including your $100 bet) for a net gain of $99,900. What is the probability of winning? Would you play this game? Discuss the factors that would influence your decision. NOV 11 38. A game has an expected value to you of -$0.50. It costs $2 to play, but if you win, you receive $20 (including your $2 bet) for a net gain of $18. What is the probability of winning? Would you play this game? Discuss the factors that would influence your decision. C 39. Five thousand tickets are sold at $1 each for a charity raffle. Tickets will be drawn at random and monetary prizes award- ed as follows: 1 prize of $500; 3 prizes of $100, 5 prizes of $20, and 20 prizes of $5. What is the expected value of this raffle if you buy 1 ticket? 40. Ten thousand raffle tickets are sold at $2 each for a local library benefit. Prizes are awarded as follows: 2 prizes of $1,000, 4 prizes of $500, and 10 prizes of $100. What is the expected value of this raffle if you purchase 1 ticket? 41. A box of 10 flashbulbs contains 3 defective bulbs. A random sample of 2 is selected and tested. Let X be the random variable associated with the number of defective bulbs in the sample. (A) Find the probability distribution of X. (B) Find the expected number of defective bulbs in a sample. tv MacBook Pro
Transcribed Image Text:ose $10 if a up. How much turns up in order ose $3 if 3 heads -3 if 0 heads ap- head appears s in ck. If the card $1. What is the eck. If the card is se $4. What is the card deck. If the 0; otherwise, you game? card deck. you win $10; ed value of the A₁ or A₂, is given ce the largest 37. A game has an expected value to you of $100. It costs $100 to play, but if you win, you receive $100,000 (including your $100 bet) for a net gain of $99,900. What is the probability of winning? Would you play this game? Discuss the factors that would influence your decision. NOV 11 38. A game has an expected value to you of -$0.50. It costs $2 to play, but if you win, you receive $20 (including your $2 bet) for a net gain of $18. What is the probability of winning? Would you play this game? Discuss the factors that would influence your decision. C 39. Five thousand tickets are sold at $1 each for a charity raffle. Tickets will be drawn at random and monetary prizes award- ed as follows: 1 prize of $500; 3 prizes of $100, 5 prizes of $20, and 20 prizes of $5. What is the expected value of this raffle if you buy 1 ticket? 40. Ten thousand raffle tickets are sold at $2 each for a local library benefit. Prizes are awarded as follows: 2 prizes of $1,000, 4 prizes of $500, and 10 prizes of $100. What is the expected value of this raffle if you purchase 1 ticket? 41. A box of 10 flashbulbs contains 3 defective bulbs. A random sample of 2 is selected and tested. Let X be the random variable associated with the number of defective bulbs in the sample. (A) Find the probability distribution of X. (B) Find the expected number of defective bulbs in a sample. tv MacBook Pro
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