Read this information carefully, and calculate the expectation (to the nearest cent) for this contest. Assume prize A is $80,000, prize B is $1,000, prize C is $200, and prize D is $10. PRIZEABCDTOTAL$ WIN$ WIN $NUMBER OF PRIZES135252028,90029,485PROBABILITY OF WINNINGINDICATED PRIZE0.0000050.000020.00020.0108860.011111

From the information, given that Let X denotes the cash prize. Prize of A is $80,000 Prize of B…

Answered: ead this information carefully, and…

ead this information carefully, and calculate the expectation (to the nearest cent) for this contest. Assume prize A is $80,000, prize B is $1,000, prize C is $200, and prize D is $10.

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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Question

100%

Read this information carefully, and calculate the expectation (to the nearest cent) for this contest. Assume prize A is $80,000, prize B is $1,000, prize C is $200, and prize D is $10.

PRIZE
A
B
C
D
TOTAL
$ WIN$ WIN $
NUMBER OF PRIZES
13
52
520
28,900
29,485
PROBABILITY OF WINNING
INDICATED PRIZE
0.000005
0.00002
0.0002
0.010886
0.011111

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