The probability of winning the $100 fırst prize is 1/40, and the probability of winning the $25 second prize is 1/20. What is the mean winnings for one play, taking into account the $5 cost of the ticket? Hint: First find the probability model of a player's net gain, taking into account the $5 cost of the ticket. O $3.375 O -$0.875 O $3.75 O -$1.25

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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Chapter1: Starting With Matlab
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8. A raffle ticket costs $5. First- and second-prize winners will be drawn at random.
The probability of winning the $100 fırst prize is 1/40, and the probability of winning
the $25 second prize is 1/20. What is the mean winnings for one play, taking into
account the $5 cost of the ticket?
Hint: First find the probability model of a player's net gain, taking into account the $5
cost of the ticket.
$3.375
O -$0.875
O $3.75
O $1.25
Transcribed Image Text:8. A raffle ticket costs $5. First- and second-prize winners will be drawn at random. The probability of winning the $100 fırst prize is 1/40, and the probability of winning the $25 second prize is 1/20. What is the mean winnings for one play, taking into account the $5 cost of the ticket? Hint: First find the probability model of a player's net gain, taking into account the $5 cost of the ticket. $3.375 O -$0.875 O $3.75 O $1.25
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