Answered: expected value per ticket from the…

Math

Probability

expected value per ticket from the standpoint of the charity?

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...

See similar textbooks

Related questions

Q: 4% of $6.00

Q: An exercise machine with an original selling price of $1,275 is marked down by 20%. What is the sale…

A: first we compute down price of actual price then we find sale price

Q: A = $4000, r = 9%, t = 9 years A. $2210 B. $2291 C. $7240 D. $2219

A: Given- A=$4000,r=9% and t=9years. To find- The principal amount. Formula used- Formula for simple…

Q: d 500 as a monthly payment for a new car. Your bank offers car loans at 4.5% APR for 3 years. How…

A: Introduction: The formula for the monthly payment is given by, M=Pr1+rn1+rn-1 Where P is amount of…

Q: A corporate bond paying $2,000 after 12 weeks earns 0.03% simple interest per week. How much did it…

Q: Peter earns 11% commission on the sales he makes each month. If his total sales this month were…

A: Given, 11% commission Total =$47243

Q: Round your answer to the nearest dollar.Make a 5% offer on a Ford Escort that has a sticker price of…

A: The objective of this question is to calculate a 5% offer on a Ford Escort that has a sticker price…

Q: An Amazon Echo originally costs $99.99. It is on sale for 10% off. Sales tax of 7.5% is then added…

A: Given, The cost of amazon echo = $ 99.99 Discount on sale = 10 % Sales tax = 7.5 % We have to find…

Q: A laptop was originally sold for 1200. The laptop is now on sale for $950. What is the percent…

Q: Sales rose 4.2% to $9.9 billion. What were the sales prior to this rise?

Q: . A local grocery store buys fresh carrots from a nearby farm for $0.49 per pound and sells them…

A: The objective of this question is to find the markup rate that the grocery store uses when selling…

Q: The regular price of a TV is $896 but it is marked down by 32%. What is the sale price? (round…

A: The regular price of a TV is $896. it is marked down by 32%. After the marked down price, the…

Q: p= ?, r=8%, t= 3 months, i=24

A: Obtain the principal amount for the given details as follows.r = 8%, t = 3 months, i = 24

Q: After being discounted 30%, a weather radio sells for $48.97. Find the original price. (Round your…

Q: An investor deposits 3,500 into an account paying 8% compunded semiannually. Two years later she…

A: Here we find compound money upto 7 year.

Q: Suppose you are producing an outdoor festival. You estimate that you will make $300000 if it does…

A: We have to find what are expected earnings for the festival.

Q: number

Question

As a fundraiser, the local charity is raffling off a prize worth $500.00. They plan to sell 1300 tickets at a cost of $1.00 each. What is the expected value per ticket from the standpoint of the charity? Round your answer to the nearest cent.

Video Video

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Given data

VIEW

Step 2: Explaination

VIEW

Solution

VIEW

Step by step

Solved in 3 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

A company's sales decreased 5% this year, to $6,585. What were their sales last year? (Round your answer to the nearest penny).
A book is marked 26% off. If the original price is $12.46, what will the sale price be? Round your answer to the nearest cent. Do not include units with your answer.
A store sells a shirt with a markup of 60% above what they purchased it from the manufacturer. If they purchased the shirt for $12.50, how much will they sell it for?
Your property taxes come due annually and generally cost about $4,000. You decide that you would like to set aside a monthly amount, beginning in January, to be prepared for when this bill comes at the end of the year. How much should you set aside each month? Round your answer to the closest dollar amount. You must show work to earn full credit. Divide the cost by the number of months in a year.
Solve for the portion round to hundreths when necessary what number is 0.6% of 500?
What is the sale tax on a $440 purchase if the sale tax is 4.7%. round to the nearest cent as needed
Joe spent $1,234.42 on his wardrobe last month. If he spends 7.3% less this month, how much will he spend this month? Round your answer to the nearest cent.
Can someone please help? Thank you.
500 pounds of apples were purchased at $0.37 per pound. The desired markup is 25% based on selling price, but 15% spoilage is expected. What should the selling price per pound be? (Round your answer to the nearest cent.) $0.42 $0.49 $0.54 $0.58
A manufacturer of skateboards offered a 7/5/2 chain discount to many customers. Bob’s Sporting Goods ordered 20 skateboards for a total $645 list price.a. What was the net price of the skateboards? (Do not round intermediate calculations. Round your final answer to the nearest cent.)
The normal price on a compressor is $280 but it is discounted by 20%. What is the discounted price?
A store decreases the price of a sofa by 16% this month only, to $5800. What was the price before the discount? Round to the nearest dollar.