A raffle for a charity fund-raiser is being planned. Each of 2000 raffle tickets will be sold for $1.00. The holders of 32 winning tickets will each win a prize. The table shows the prize values and the number of prizes for each value. Prize Value Number of Prizes 20 $25 $50 10 $300 2 The random variable W represents the value of the prize won for a single ticket minus the cost of the ticket. What is the expected value of W? (A) -$1.00 (B) -$0.20 (C) $0.80 (D) $49.00 (E) $124.00
A raffle for a charity fund-raiser is being planned. Each of 2000 raffle tickets will be sold for $1.00. The holders of 32 winning tickets will each win a prize. The table shows the prize values and the number of prizes for each value. Prize Value Number of Prizes 20 $25 $50 10 $300 2 The random variable W represents the value of the prize won for a single ticket minus the cost of the ticket. What is the expected value of W? (A) -$1.00 (B) -$0.20 (C) $0.80 (D) $49.00 (E) $124.00
Chapter8: Sequences, Series,and Probability
Section: Chapter Questions
Problem 41CT: On a game show, a contestant is given the digits 3, 4, and 5 to arrange in the proper order to form...
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Question
![A raffle for a charity fund-raiser is being planned. Each of 2000 raffle tickets will be sold for $1.00. The holders of
32 winning tickets will each win a prize. The table shows the prize values and the number of prizes for each value.
Prize Value
Number of Prizes
20
$25
$50
10
$300
2
The random variable W represents the value of the prize won for a single ticket minus the cost of the ticket. What is
the expected value of W?
(A) -$1.00
(B) -$0.20
(C) $0.80
(D) $49.00
(E) $124.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe68930b7-6552-46b3-ab6f-1ff15a13eb9f%2Fb8b4882d-c1c5-4ab8-a039-7e82b8a39894%2F9a2i9kf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A raffle for a charity fund-raiser is being planned. Each of 2000 raffle tickets will be sold for $1.00. The holders of
32 winning tickets will each win a prize. The table shows the prize values and the number of prizes for each value.
Prize Value
Number of Prizes
20
$25
$50
10
$300
2
The random variable W represents the value of the prize won for a single ticket minus the cost of the ticket. What is
the expected value of W?
(A) -$1.00
(B) -$0.20
(C) $0.80
(D) $49.00
(E) $124.00
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