Calculate the expectation (to the nearest cent) for the Reader's Digest sweepstakes described. Assume there are 185,000,000 entries.$$10,500,000.00SWEEPSTAKES ENTRY DOCUMENTOfficial Disclosure of DatesTo be eligible to win the FIVE MILLIONDOLLAR Grand Prize, you must returnthe attached Sweepstakes EntryDocument by August 19, 1991. Failureto respond by that date will result in theforfeiture of Grand Prize eligibility. Tobe eligible to win any of 58,567 otherprizes (but not the Grand Prize), returnyour Sweepstakes Entry Document byMarch 2, 1992.appropriate seal at left and affixing itonto the box provided on yourSweepstakes Entry Document.OFFICIAL PRIZE LIST1 First Prize...2 Second Prizes..$100,000.00.$50,000.00.$20,000.00.$5,000.00$500.00$100.0058,147 Seventh Prizes. . Winner'schoice of a "Special Edition" Men's orWomen's Wristwatch, an $89.003 Third Prizes...4 Fourth Prizes.. .10 Fifth Prizes..400 Sixth Prizes....Grand Prize Distribution InformationIf you are chosen Grand Prize winner,you will receive FIVE MILLIONDOLLARS in your choice of paymentoptions: Either 30equal yearly paymentsof $167,000.00 each OR 360 equalmonthly payments of $14,000.00 each.You must specify your choice ofpayment option now by detaching theapproximate retail value.JP BurrSponsorSWEEPSTAKES DIRECTORNeed Help?Read ItCourtes y of Reader's Digest, Inc.

Name: Calculate the expectation (to the nearest cent) for the Reader's Dige
Uploaded: 2024-03-20T06:38:58.000Z
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Description: Calculate the expectation (to the nearest cent) for the Reader's Digest sweepstakes described. Assume there are 185,000,000 entries.$$10,500,000.00SWEEPSTAKES ENTRY DOCUMENTOfficial Disclosure of DatesTo be eligible to win the FIVE MILLIONDOLLAR Gra