QUESTION 3. The state sells 5 million lottery tickets at $2.00 apiece and offers the following prizes:$1006000 winners$2,500250 winners$50,00012 winners$100,0006 winners$250,0003 winners$2,500,0001 winnerYou buy one ticket. What is the probability that your ticket wins a prize? (any prize)What is the expected value of your ticket?

Answered: Image /qna-images/answer/d2475308-3525-4345-acd2-568a2ca3705c.jpg

Answered: QUESTION 3. The state sells 5 million…

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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The following table lists the probability distributions of the winnings for one play of a game of chance. Winning $25 Probability 0 i 0.60 $1 0.25 $5 ? $10 0.05 0.01 What is the probability of winning no more than $5 in one play of this game?
The Math Team is hosting a raffle, and only 100 people will be allowed to enter. A ticket costs $2 and the prize is a $50 gift card. Only one person will win. What is the probability that you will win? What is the probability that you will not win? Find the expected value.
In a certain game, the player rolls a standard die one time. If they roll a 1 or 2, they receive $50.00, if they roll a 3, they pay $5.00, and if they roll a 4, 5, or 6, they pay $15.00.What is the expected value for the player in this game? Round your answer to the nearest cent.
Poker is a common game in which players are dealt five cards from a deck of cards. It can be shown that there are 2,598,960 different possible poker hands. The winning hands (from highest to lowest) are shown in the table below. Find the requested probability. Use a calculator. (Show your answer to nine decimal places.) P(royal flush) Enter a number. Poker Hands Royal flush 4 hands Other straight flush 36 hands Four of a kind 624 hands Full house 3,744 hands Flush 5.108 hands Straight 10.200 hands ABEE
A test has three parts. Part A consists of seven true-false questions, part B consists of three multiple-choice questions with five choices each, and part C requires you to match three questions with three different answers one-to-one. Assuming that you make random guesses in filling out your answer sheet, what is the probability that you will earn 100% on the test? (Leave your answer as a formula.) P(E) O P(E) O P(E) = P(E) = P(E) = = = 1 7² x 5³ x 3! 1 27 x 5³ x 3! 1 3² x 53 1 2³ x 35 x 7! x 7! 1 23 x 75 x 3!
What is the expected value if I buy 10 tickets (at $2 each) for a pick-8 game of Keno? a. -$5.70 b. -$0.57 c. $0.57 d. $1.43 e. None of the other answers is correct.
Rodney is going to shoot a total of 9 free-throws to prove he is a better shooter than Chris. During warm-ups Rodney can make 57% of practice shots. The challenge results are as follows… • 9 hits Rodney wins $100 • 6-8 hits Rodney wins $25 • 4-5 No one wins • 0-3 hits Chris wins $15 What is the probability that Rodney makes 7 shot?
You buy a lottery ticket to a lottery that costs $10 per ticket. There are only 100 tickets available to be sold in this lottery. In this lottery, there are one $500 prize, two $100 prizes, and four $25 prizes. Find your expected gain or loss. The expected loss is:
Roll a fair six sided die. you win $4 if you roll a number that is less than 3. you will lose $1 if you roll the number 6. if you roll any other number, you will neither win nor lose anything. find the expected value (winnings) of this probability to the nearest cent A. 1.17 B. 1.33 C. 2.00 D. 3.83
Find the expected value of the winnings from a game that has the following payout probability distribution: Payout ($) 1 25 8 10 Probability 0.35 0.2 0.1 0.2 0.15 Expected Value = [?] Round to the nearest hundredth.
In a game, you roll a die. If you get a 1 or a 5, you would win $5. If you roll a 4 you win $15 and if you roll a 2, 3, or 6 you lose $10. What is the expected value of one roll of the die? Type a response

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