A prize of $100, $200, $500, or $1000 will be randomly awarded to a gameshow contestant, with the probabilities of winning each prize shown in thetable below. What is the expected value of the prize that will be awarded?Prize$100 $200 $500 $1000Probability1155.A. $460B. $380C. $400D. $560

Answered: Image /qna-images/answer/07e787c6-117d-422d-a4f7-87661fc58f1e.jpg

Answered: A prize of $100, $200, $500, or $1000…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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In an experiment, college students were given either four quarters or a $1 bill and they could either keep the money or spend it on gum. The results are summarized in the table. Complete parts (a) through (c) below. Purchased Gum Kept the Money Students Given Four Quarters Students Given a $1 Bill 26 11 16 28 a. Find the probability of randomly selecting a student who spent the money, given that the student was given four quarters. The probability is (Round to three decimal places as needed.) b. Find the probability of randomly selecting a student who kept the money given that the student was given four quárters. Gr The probability is (Round to three decimal places as needed.) c. What do the preceding results suggest? se OA. Astudent given four quarters is more likely to have kept the money than a student given a $1 bill. see OB. Astudent given four quarters is more likely to have spent the money. KDC. Astudent given four quarters is more likely to have kept the money. see se O D. A…
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