The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $2. There is 1 winning ticket out of the 260 tickets sold. The winner gets a prize worth $70. *Round your answers to the nearest cent.*1. What is the expected value (to you) of one raffle ticket? $______ 2. Calculate the expected value (to you) if you purchase 12 raffle tickets. $______3. What is the expected value (to the PTO) of one raffle ticket? $______4. If the PTO sells all 260 raffle tickets, how much money can they expect to raise for the classroom supplies? $______

Name: The PTO is selling raffle tickets to raise money for classroom suppli
Uploaded: 2024-03-20T07:06:41.000Z
Channel: Bartleby
Description: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $2. There is 1 winning ticket out of the 260 tickets sold. The winner gets a prize worth $70. *Round your answers to the nearest cent.*1. What is the expe

We know Expected Value is the average gain or loss if the event is occured many times Concept Used:-…

Math

Advanced Math

The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $2. There is 1 winning ticket out of the 260 tickets sold. The winner gets a prize worth $70. Round your answers to the nearest cent. What is the expected value (to you) of one raffle ticket? $ Calculate the expected value (to you) if you purchase 12 raffle tickets. $ What is the expected value (to the PTO) of one raffle ticket? $ If the PTO sells all 260 raffle tickets, how much money can they expect to raise for the classroom supplies?

The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $2. There is 1 winning ticket out of the 260 tickets sold. The winner gets a prize worth $70. Round your answers to the nearest cent. What is the expected value (to you) of one raffle ticket? $ Calculate the expected value (to you) if you purchase 12 raffle tickets. $ What is the expected value (to the PTO) of one raffle ticket? $ If the PTO sells all 260 raffle tickets, how much money can they expect to raise for the classroom supplies?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Related questions

Q: Makayla is flying from Memphis to Oklahoma City with a connection in Denver. The probability her…

Q: A lottery game costs $3 to play and the probability of winning is 0.0022. If you get $99 with a…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: According to the provided information, the number of tickets they will sell is 900 and the cost for…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: From the provided information, the total number of tickets they will sell = 700. So,

Q: A quick quiz consists of a multiple-choice question with 5 possible answers followed by a true/false…

A: Given dataMultiple choice questions with 5 possible answers followed by a true and false5 possible…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

Q: At a local fair, a raffle is being held. There were 1,067 tickets were sold for $10 each. There is…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

Q: In the game of Keno, what are the expected winnings if catching 1 number pays you $3 and catching 2…

A: In the game of Keno, what are the expected winnings if catching 1 number pays you $3 and catching 2…

Q: Sandra bought a Mega Millions ticket for $10. 100 million tickets have been sold for the game. One…

A: The cost of each of the tickets is $10.

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5.…

Q: You buy a single raffle ticket for $10 for a chance to win a $500 jackpot. The raffle sells 200…

A: It is needed to give $10 to buy a ticket and once can win $500 as a jackpot.

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given information- We have given that the student council is hosting a drawing to raise money for…

Q: O 00 The student council is hosting a drawing to raise money for scholarships. They are selling…

Q: Illustration 16.72. A bag contains 4 rupee, 10 one paise, 6 fifty paise coins and 3 twenty-five…

Q: You pay $20 to enter a raffle. The first ticket drawn wins $990, the second ticket drawn wins $465,…

A: The objective of this question is to calculate the expected earning on a raffle ticket. The expected…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: It is requested to calculate the expected profit for one ticket. Cost of one ticket = $ 8 Total…

Q: A company estimates that 0.9% of their products will fail after the original warranty period but…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given information- We have given that the student council is hosting a drawing to raise money for…

Q: 50 raffle tickets were sold for $5 apiece, with a chance to win a flat screen TV values at $700.…

A: The price can be won only one of the ticket out of 250 raffle tickets So, P(win) =1250P(Loss) =…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5.…

A: Using the given info we make a table Winning amount (xi) 96 0 Total Frequency 1 (210-1)=209 210…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Selling price of ticket =$9Total ticket sell =8001 prize of $3000,4 prize of $200 and 18 prize of…

Q: You are playing a game where you flip 3 coins, if you get all tails you lose $15, for er heads you…

A: Given: 3 coins are flipped If you get all tails you lose $15, for each heads you get $3.

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

Q: t a raffle, 500 ticket are sold at $4 each. There are twenty $10 prizes, four $50 prizes, and one…

A: Let X be a random variable such that X: Gain or loss in buying one ticket in dollars X -4 10 50…

Q: A 40-year-old man in the U.S. has a 0.247% risk of dying during the next year. An insurance company…

A: To calculate the expected value for the person buying the insurance, we need to consider the…

Q: One 8-sided die is rolled. If you get a 5, you win $10. Otherwise, you lose. It costs $2 to play the…

A: 8 sided die : It has 8 sides ( 1 to 8 ) Probability for apperance of each side = 1/8 Expected…

Q: expected value per ticket from the standpoint of the charity?

A: As a fundraiser, the local charity is raffling off a prize worth $500.00. They plan to sell 1300…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5.…

A: It is given that the a raffle ticket costs $5 and there is 1 winning ticket out of the 180 tickets…

Q: A quick quiz consists of a true/false question followed by a multiple-choice question with 6…

Q: a conviecnce store has made up 20 grab bag gifts and is offering them for $2 a bag. ten bags contaon…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given: The student council is hosting a drawing to raise money for scholarships. Cost of one ticket…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $4.…

Q: If the lottery costs $1 per ticket, what is the expected net cash if you buy one ticket? Please…

A: The expected winning amount is given by : Price (in $) ( xi ) Probability ( pi )…

Q: event of a fire, the insured damages (the payout on the policy) will be $340,000. lake a table of…

A: Solution : Given that:a) Make a table of the two possible payouts on each policy with the…

Q: An airline sells traveler's insurance for its flights. The a 1 6100 for the airline? Round final…

Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

Topic Video

Question

The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $2. There is 1 winning ticket out of the 260 tickets sold. The winner gets a prize worth $70. *Round your answers to the nearest cent.*

1. What is the expected value (to you) of one raffle ticket? $______

2. Calculate the expected value (to you) if you purchase 12 raffle tickets. $______

3. What is the expected value (to the PTO) of one raffle ticket? $______

4. If the PTO sells all 260 raffle tickets, how much money can they expect to raise for the classroom supplies? $______

Expert Solution

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!

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2 (a)

Step 3 (b)

Step 4 (c)

Step 5 (d)

Trending now

This is a popular solution!

Step by step

Solved in 5 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Discrete Probability Distributions$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.

Similar questions

3. C is the curve y = e® from (2, e²) to (0,1) and F = (x², -y) , compute SF.dr.
A booth at the school carnival prepared 30 grab bags offered for sale for $3.00 a bag. Ten bags contain merchandise worth $1.00. Eight bags contain merchandise worth $2.00, and twelve bags contain merchandise worth $3.00. You purchase one bag. What is your expected gain or loss?
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $6 each and will sell 900 tickets. There is one $1,000 grand prize, three $500 second prizes, and fifteen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. Question Help: Written Example > Next Question %23 44 F1 19 23 14 F6 F7 F10 %23 24 &. 2 4. 8. 9. Q Y U A S D K Z V M option command .. •- JI B w/
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 600 tickets. There is one $1,000 grand prize, three $200 second prizes, and thirteen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. $
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 800 tickets. There is one $2,000 grand prize, three $400 second prizes, and sixteen $20 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. $ 5.6 Hint: Hint
Decide which of these numbers could not possibly be probabilities. Explain your answers. a. 00.47 b. −0.047 c. 3.5 d. 1/3.5
Place the probability of spinning each number on the probability line below. nt 2. 3 1/2 John bought a cell phone for $99 and the 7% sales tax was added at the register. John gave the cashier six $20 bills, how much change should he receive?
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 600 tickets. There is one $1,000 grand prize, three $400 second prizes, and seventeen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
You pay $20 to enter a raffle. The first ticket drawn wins $1036, the second ticket drawn wins $477, the third through fifth win $186, and the sixth through tenth win $49. Suppose 2345 tickets were sold. What is the expected earning on your ticket?
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $8 each and will sell 500 tickets. There is one $3,000 grand prize, three $300 second prizes, and sixteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. $4
You are playing a game of dice where it involves rolling three dice and betting on one of the six numbers that are on the dice. The game costs P80 to play. You win P160 if the number you bet appears on only one dice, P180 if on two dice and P320 if on all three. What is your expected profit from the game? Select one: O a.-P10.50 O b. P35.80 C. P23.25 d. P85.00 O e. -P63.25
One thousand tickets are sold at $5 each. One ticket will be randomly selected and the winner will receive a color television valued at $389. What is the expected value for a person that buys one ticket? Round the answer to the nearest cent. A. $1.00 B. - $4.61 C. -$1.00 O D. $4.61