What value should be in the shaded box in the contingency table below?

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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MD has a new type of scratch-off ticket for $15 to win one of:
12 prizes of $15
7 small prizes of $37
• 2 large prizes of $400
• 1 grand prize of $20,000
Once they've sold 3,000 tickets, they will select the winning tickets.
What value should be in the shaded box in the contingency table below?
Probability,
Outcome, X
x · P(x)
P(x)
Win: grand prize
???
Win: large prize
Win: small prize
Win: prize
Lose
IMPORTANT Rounding Directions:
• Do NOT round until the final answer
If necessary, round your final answer to 4 decimal places
Transcribed Image Text:MD has a new type of scratch-off ticket for $15 to win one of: 12 prizes of $15 7 small prizes of $37 • 2 large prizes of $400 • 1 grand prize of $20,000 Once they've sold 3,000 tickets, they will select the winning tickets. What value should be in the shaded box in the contingency table below? Probability, Outcome, X x · P(x) P(x) Win: grand prize ??? Win: large prize Win: small prize Win: prize Lose IMPORTANT Rounding Directions: • Do NOT round until the final answer If necessary, round your final answer to 4 decimal places
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