Homework Help is Here – Start Your Trial Now!
Math
Advanced Math
A college foundation raises funds by selling raffle tickets for a new car worth $45,0 tickets are sold for $100 each, determine: a. The expected net winnings of a person buying one of the tickets.

A college foundation raises funds by selling raffle tickets for a new car worth $45,0 tickets are sold for $100 each, determine: a. The expected net winnings of a person buying one of the tickets.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
See similar textbooks
icon
Related questions
Question
100%
I need help with #6A
series, and 16 times where all Se number of games played in the World Series. gan 5.825games 3 3. Betty is playing a game with a fair die. If she rolls a prime number, she scores 10 times the number rolls. If she rolls a compošite number, she scores 5 times the number rolls. If she roils anything else, she scores the number rolled. What score should Betty expect on average? 58.5 points 4. The spinner below is being used in a casino game. The spinner has eight equal sectors. Each sector is a certain color (P = purple, R = red, Y = vellow, and B = blue). You must pay $5 to play the game. If the arrow lands on purple, the pavoff is zero. If the arrow lands on red, the payoff is $3. If the arrow lands on yellow, the payoff is $6. If the arrow lands on blue, the payoff is STo. If you play this game, what is your expected net winning?=-$0 15 O -5 3-5 6-5 |lb-5 P R winning-$5/-28 $1 EG) = -53) -2G) +1 R Y 2 Y B = -$0.15 5. An insurance company will insure a $130,000 home for its total value for an annual premium of $950. If the company spends $30 per year to service such a policy, the probability of total loss for such a home in a given year is 0.002 and a partial loss of $5000 is 0.005. If you assume that either total loss, $5000 partial loss or no loss will occur, what is the company’s expected annual gain (or profit) on such a policy? 4 635 6. A college foundation raises funds by selling raffle tickets for a new car worth $45,000. If 800 tickets are sold for $100 each, determine: The expected net winnings of a person buying one of the tickets. a. b. The total profit for the foundation, assuming that the car was donated.80,00 O 800(100) = 80600 c. The total profit for the foundation, assuming that it had to purchase the car. 80000 -45000 Es 35000 2/2
Transcribed Image Text:series, and 16 times where all Se number of games played in the World Series. gan 5.825games 3 3. Betty is playing a game with a fair die. If she rolls a prime number, she scores 10 times the number rolls. If she rolls a compošite number, she scores 5 times the number rolls. If she roils anything else, she scores the number rolled. What score should Betty expect on average? 58.5 points 4. The spinner below is being used in a casino game. The spinner has eight equal sectors. Each sector is a certain color (P = purple, R = red, Y = vellow, and B = blue). You must pay $5 to play the game. If the arrow lands on purple, the pavoff is zero. If the arrow lands on red, the payoff is $3. If the arrow lands on yellow, the payoff is $6. If the arrow lands on blue, the payoff is STo. If you play this game, what is your expected net winning?=-$0 15 O -5 3-5 6-5 |lb-5 P R winning-$5/-28 $1 EG) = -53) -2G) +1 R Y 2 Y B = -$0.15 5. An insurance company will insure a $130,000 home for its total value for an annual premium of $950. If the company spends $30 per year to service such a policy, the probability of total loss for such a home in a given year is 0.002 and a partial loss of $5000 is 0.005. If you assume that either total loss, $5000 partial loss or no loss will occur, what is the company’s expected annual gain (or profit) on such a policy? 4 635 6. A college foundation raises funds by selling raffle tickets for a new car worth $45,000. If 800 tickets are sold for $100 each, determine: The expected net winnings of a person buying one of the tickets. a. b. The total profit for the foundation, assuming that the car was donated.80,00 O 800(100) = 80600 c. The total profit for the foundation, assuming that it had to purchase the car. 80000 -45000 Es 35000 2/2
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,
SEE MORE TEXTBOOKS