A contest at a fast-food restaurant offered the cash prizes and probabilities of winning on one visit shown to the rnight Suppose you spend $1 to buy a bus pass that lets you go to 22 different restaurants in the chain and pick up entry forms. Find your expected value. Prize $100,000 $25.000 $5,000 $1,000 $100 Probablity 1/8,352.000 1/1,670,400 1/835,200 1/104,400 1/20,880 $5 1/5,220 $1 1/580 The expected value is (Round to the nearest cent as needed. Do not include the $ symbol your answer)

A contest at a fast-food restaurant offered the cash prizes and probabilities of winning on one visit shown to the rnight Suppose you spend $1 to buy a bus pass that lets you go to 22 different restaurants in the chain and pick up entry forms. Find your expected value. Prize $100,000 $25.000 $5,000 $1,000 $100 Probablity 1/8,352.000 1/1,670,400 1/835,200 1/104,400 1/20,880 $5 1/5,220 $1 1/580 The expected value is (Round to the nearest cent as needed. Do not include the $ symbol your answer)

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A First Course in Probability (10th Edition)

10th Edition

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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Concept explainers

2-Proportion Test

In a 2-proportion test, two separate proportions are measured at the same time, and their similarity is evaluated. It is also known as a 2-proportion z-test, and a comparison of two different proportions is done in this method.

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Question

A contest at a fast-food restaurant offered the cash prizes and probabilities of winning on one visit shown to the right. Suppose
you spend $1 to buy a bus pass that lets you go to 22 different restaurants in the chain and pick up entry forms. Find your
expected value.
Prize
$100,000
$25,000
$5,000
$1,000
$100
Probability
1/8,352,000
1/1,670,400
1/835,200
1/104,400
1/20,880
1/5,220
$5
$1
1/580
The expected value is
(Round to the nearest cent as needed. Do not include the $ symbol in your answer.)

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