rizes and the chances of winning in a sweepstakes are given in the table below.   Prize Chances $15,000,000 1 chance in 300,000,000 $550,000 1 chance in 100,000,000 $75,000 1 chance in 40,000,000 $5,000 1 chance in 5,000,000 $400 1 chance in 400,000 A watch valued at $60 1 chance in 6,000 (a) Find the expected value (in dollars) of the amount won by one entry. (b) Find the expected value (in dollars) if the cost of entering this sweepstakes is the cost of a postage stamp (34 cents)

Q: A probability distribution for various prize values is given by the following table. Prizes $ $0.00…

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Q: Roll a fair six-sided die. You win $4 if you roll a number that is less than 3. You will lose $1 if…

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Q: Giving a test to a group of students, the grades and gender are summarized below A Total Male 10 16…

A: Solution : Given :                                A           B             C            Total Male…

Q: A bag contains 2 gold marbles, 9 silver marbles, and 25 black marbles. Someone offers to play this…

A: Given that, Number of gold marble=2 Number of silver marble =9 Number of black marble =25 Given that…

Q: A probability distribution for various prize values is given by the following table. Prizes…

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Q: Question content area top Part 1 Five thousand tickets are sold at​ $1 each for a charity raffle.…

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Q: Flawed parts: On a certain day, a foundry manufactured  583  cast aluminum parts. Some of these…

A: Step 1: Identify the formulas to be used to find probabilitiesP (A) = Total A/Overall TotalP (not A)…

Q: alottery ticket costs you $5. 10,000 lottery tickets are sold with only one ticket can win $5,000.…

A: It was stated that a lottery ticket costs $5. 10,000 lottery tickets are sold with only one ticket…

Q: You're offered this bet. Flip a fair coin twice. If you get two heads, then you win $10; two tails,…

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Q: Below is a table that describes the age (in years) and the gender of students at West Chester…

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Q: The accompanying table shows the results of a survey in which 250 male and 250 female workers ages…

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Q: Lottery: In the New York State Numbers lottery, you pay $1 and can bet that the sum of the numbers…

A: Formula for expected value is,  E(X) = ∑xP(X)

Q: Find the expected value:    You draw a card from a 52 card deck. If you get a black card, you win…

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Q: 1 In the game of roulette, a player can place a $7 bet on the number 13 and have a probability of…

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Q: Question Help Suppose a life insurance company sells a $250,000 one-year term life insurance policy…

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Q: Life Insurance A 37-year-old woman purchases a $300,000 term life insurance policy for an annual…

A: From the provided information,Probability of surviving, P (surviving) = 0.999053P (death) = 1 -…

Q: possIbie It is estimated that there are 31 deaths for every 10 million people who use airplanes. A…

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Q: A university conducted a survey of 377 undergraduate students regarding satisfaction with student…

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Q: Lottery: In the New York State Numbers lottery, you pay $2 and can bet that the sum of the numbers…

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