A raffle for a charity fund-raiser is being planned. Each of 2000 raffle tickets will be sold for $1.00. The holders of32 winning tickets will each win a prize. The table shows the prize values and the number of prizes for each value.Prize ValueNumber of Prizes20$25$5010$3002The random variable W represents the value of the prize won for a single ticket minus the cost of the ticket. What isthe expected value of W?(A) -$1.00(B) -$0.20(C) $0.80(D) $49.00(E) $124.00

The objective of this question is to find the expected value of the random variable W, which…

Answered: A raffle for a charity fund-raiser is…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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At a Raffle, 1000 tickets are sold at $5 each. There are 20 prizes of $100, and 1 grand prize of $2000. Suppose you buy one ticket. Let the random Variable X represent your net gain (remember that the net gain should include the cost of the ticket) after playing the game once. Question: What ticket price (rounded to two decimal places) would make it a fair game?
A person randomly selects one of six envelopes. Each envelope contains a check that the person gets to keep. Determine the person's expectation if the six envelopes contain checks for $93, $214, $287, $384, $486, and $1100. The expected value is $
t a raffle, 500 ticket are sold at $4 each. There are twenty $10 prizes, four $50 prizes, and one $100 prize. What is the expected gain for buying one ticket in dollars?
The average number of times per week that Mrs. Plum's cats wake her up at night because they want to play is ten. We are interested in the number of times her cats wake her up each week. In words, the random variable X = a. the number of times Mrs. Plum's cats wake her up each week b. the number of times Mrs. Plum's cats wake her up each hour c. the number of times Mrs. Plum's cats wake her up each night d. the number of times Mrs. Plum's cats wake her up
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An urn contains 22 marbles consisting of 10 red marbles, 7 blue marbles, and 5 yellow marbles. What is the probability of randomly selecting a blue marble from the urn? Some answers have been rounded to the nearest percentage. A. O 7% B.22% C.O 32% D. O 50% Question a
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