Tickets for a raffle cost $18. There were 660tickets sold. One ticket will be randomly selectedas the winner, and that person wins $1700 andalso the person is given back the cost of theticket. For someone who buys a ticket, what is theExpected Value (the mean of the distribution)?If the Expected Value is negative, be sure toinclude the "-" sign with the answer. Express theanswer rounded to two decimal places.Expected Value = $%3D

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Answered: Tickets for a raffle cost $18. There…

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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Suppose that the mean score of a class of 34 students was 79. The 15 male students in the class had a mean score of 62. What was the mean score for the 19 female students? Mean Score for Female Students = preview answers
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An industrial designer wants to determine the average amount of time an adult spends building an easily installed toy. Using data from a random sample (in minutes), estimate the mean of the population from which the sample was selected with 95% probability.
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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/
Tickets for a raffle cost $14. There were 816 tickets sold. One ticket will be randomly selected as the winner, and that person wins $1300 and also the person is given back the cost of the ticket. For someone who buys a ticket, what is the Expected Value (the mean of the distribution)? If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer rounded to two decimal places.
Find the indicated probability and interpret the result. From 1975 through 2020, the mean annual gain of the Dow Jones Industrial Average was 653. A random sample of 34 years is selected from this population. What is the probability that the mean gain for the sample was between 400 and 800? Assume o = 1540. The probability is (Round to four decimal places as needed.) Interpret the result. Select the correct choice and fill in the answer box to complete your choice. (Round to two decimal places as needed.) O A. About OB. About OC. About OD. About % of samples of 46 years will have an annual mean gain between 400 and 800. % of samples of 34 years will have an annual mean gain between 653 and 800. % of samples of 34 years will have an annual mean gain between 400 and 800. % of sampl of 34 years will have an annual mean gain between 400 and 653.
Mario's weekly poker winnings have a mean of $353 and a standard deviation of $67. Last week he won $185. How many standard deviations from the mean is that?
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
1000 raffle tickets were sold for $4 each. 2 prizes of $500 each, and 11 prizes of $100 each is to be awarded to winners. If Olga purchases one ticket, what is the expected value of her winnings? Round your answer to two decimal places (to the nearest cent).
The weight of a package mailed during the holidays follows a uniform distribution and ranges from 2 pounds to 9 pounds. What is the probability that a package is less than 5 pounds? Express answer as a percent with 1 decimal
Explain how the answer is equal to 75%

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