Krinkles potato chips is having a "Lucky Seven Sweepstakes." The one grand prize is $70,000; 7 second prizes each pay $7,000; 77 third prizes each pay $700; and 777 fourth prizes each pay $70. What is the expectation of this contest, if there are 9 million entries? Round to 2 decimal places.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter0: Preparing For Algebra
Section: Chapter Questions
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Krinkles potato chips is having a "Lucky Seven Sweepstakes." The one grand prize is $70,000; 7 second prizes each
pay $7,000; 77 third prizes each pay $700; and 777 fourth prizes each pay $70. What is the expectation of this
contest, if there are 9 million entries? Round to 2 decimal places.
Transcribed Image Text:Krinkles potato chips is having a "Lucky Seven Sweepstakes." The one grand prize is $70,000; 7 second prizes each pay $7,000; 77 third prizes each pay $700; and 777 fourth prizes each pay $70. What is the expectation of this contest, if there are 9 million entries? Round to 2 decimal places.
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