Debra is buying prizes for a game at her school's fundraiser. The game has three levels of prizes, and she has already bought the second and third prizes. She wants the first prize to be nice enough to attract people to the game. The game's manufacturer has supplied her with the probabilities of winning first, second, and third prizes. Tickets cost $3 each, and she wants the school to profit an average of $1 per ticket. How much should she spend on each first prize? (Round your answer to two decimal places.) Prize Cost of Prize Probability 1st $ .15 2nd $1.25 .30 3rd $0.73 .45

Debra is buying prizes for a game at her school's fundraiser. The game has three levels of prizes, and she has already bought the second and third prizes. She wants the first prize to be nice enough to attract people to the game. The game's manufacturer has supplied her with the probabilities of winning first, second, and third prizes. Tickets cost $3 each, and she wants the school to profit an average of $1 per ticket. How much should she spend on each first prize? (Round your answer to two decimal places.) Prize Cost of Prize Probability 1st $ .15 2nd $1.25 .30 3rd $0.73 .45

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Prize	Cost of Prize	Probability
1st	$	.15
2nd	$1.25	.30
3rd	$0.73	.45

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