In a promotional effort, new customers are encouraged to enter an online sweepstakes. To play, the new customer picks 9 numbers between 1 and 50, inclusive. At the end of the promotional period, 9 numbers from 1 to 50, inclusive, are drawn without replacement from a hopper. If the customer's 9 numbers match all of those drawn (without concern for order), the customer wins $5,000,000. a) What is the probability that a randomly selected new customer wins the $5,000,000? b) What is the expected value and variance of the winnings? C) If a new customer had to mail in the picked numbers, assuming that the cost of postage and handling is $0,50what is the expected value and variance of the winnings?

In a promotional effort, new customers are encouraged to enter an online sweepstakes. To play, the new customer picks 9 numbers between 1 and 50, inclusive. At the end of the promotional period, 9 numbers from 1 to 50, inclusive, are drawn without replacement from a hopper. If the customer's 9 numbers match all of those drawn (without concern for order), the customer wins $5,000,000. a) What is the probability that a randomly selected new customer wins the $5,000,000? b) What is the expected value and variance of the winnings? C) If a new customer had to mail in the picked numbers, assuming that the cost of postage and handling is $0,50what is the expected value and variance of the winnings?

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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