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.
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
Problem 71POT
Related questions
Question
![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2dbed1da-3f32-4254-ad4d-67b595b99f21%2F83e8ffbd-7196-4889-a99a-b47002e00a28%2F2gyivzt_processed.jpeg&w=3840&q=75)
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.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 6 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Glencoe Algebra 1, Student Edition, 9780079039897…](https://www.bartleby.com/isbn_cover_images/9780079039897/9780079039897_smallCoverImage.jpg)
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
![College Algebra (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305652231/9781305652231_smallCoverImage.gif)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
![Holt Mcdougal Larson Pre-algebra: Student Edition…](https://www.bartleby.com/isbn_cover_images/9780547587776/9780547587776_smallCoverImage.jpg)
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
![Glencoe Algebra 1, Student Edition, 9780079039897…](https://www.bartleby.com/isbn_cover_images/9780079039897/9780079039897_smallCoverImage.jpg)
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
![College Algebra (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305652231/9781305652231_smallCoverImage.gif)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
![Holt Mcdougal Larson Pre-algebra: Student Edition…](https://www.bartleby.com/isbn_cover_images/9780547587776/9780547587776_smallCoverImage.jpg)
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781337282291/9781337282291_smallCoverImage.gif)
![College Algebra](https://www.bartleby.com/isbn_cover_images/9781938168383/9781938168383_smallCoverImage.gif)