A company held a bingo contest for which the following chances of winning were given. PLAY ONE CARD AND WIN YOUR CHANCES OF WINNING ARE AT LEAST: I TIME 7 TIMES 13 TIMES I in 21,252 I in 2,125 I in 86 I in 609 I in 3,036 I in 304 I in 127 I in 87 I in 1,630 I in 163 I in 68 $25 prize $3 prize S1 prize Апy prize I in 47 What is the expectation (to the nearest cent) from playing one card 7 times? Need Help? Read it

A First Course in Probability (10th Edition)
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ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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A company held a bingo contest for which the following chances of winning were given.
PLAY ONE CARD AND WIN
YOUR CHANCES OF WINNING ARE AT LEAST:
1 TIME
7 TIMES
13 TIMES
$25 prize
1 in 21,252
1 in 3,036
1 in 1,630
1 in 2,125
1 in 304
1 in 163
$3 prize
$1 prize
1 in 886
1 in 127
1 in 68
Any prize
1 in 609
1 in 87
1 in 47
What is the expectation (to the nearest cent) from playing one card 7 times?
$
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Transcribed Image Text:A company held a bingo contest for which the following chances of winning were given. PLAY ONE CARD AND WIN YOUR CHANCES OF WINNING ARE AT LEAST: 1 TIME 7 TIMES 13 TIMES $25 prize 1 in 21,252 1 in 3,036 1 in 1,630 1 in 2,125 1 in 304 1 in 163 $3 prize $1 prize 1 in 886 1 in 127 1 in 68 Any prize 1 in 609 1 in 87 1 in 47 What is the expectation (to the nearest cent) from playing one card 7 times? $ Need Help? Read It
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