A lottery has a grand prize of $200,000, four runner-up prizes of $20,000 each, seven third-place prizes of $4000 each, and twelve consolation prizes of $1000 each. If 600,000 tickets are sold for $1 each and the probability of any one ticket winning is the same as that of any other ticket winning, find the expected net winnings on a $1 ticket. (Round your answer to two decimal places.) tA

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: From the provided information, the total number of tickets they will sell = 700. So,

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Expected value: The expected value of a random variable is the sum of the possible values that the…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A:

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A:

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A:

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: The probability distribution based on the given information is as follows:

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given: The student council is hosting a drawing to raise money for scholarships. Cost of one ticket…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: We can create a table for the given data, Price (X) no. Of tickets (f) 2000 1 400 2 20 11…

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: There are 700 tickets, where price of each ticket is $6.

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Expected value: The expected value of a random variable is the sum of the possible values that the…

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A: Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A:

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: