4) The prizes that can be won in a sweepstakes are listed below together with the chances of winning each one: $3400 (1 chance in 8700); $2700 (1 chance in 5500); $900 (1 chance in 4500); $400 (1 chance in 2800). Find the expected value of the amount won for one entry if the cost of entering is 71 cents. A) $0.51 B) $1.08 C) $0.69 D) $400
4) The prizes that can be won in a sweepstakes are listed below together with the chances of winning each one: $3400 (1 chance in 8700); $2700 (1 chance in 5500); $900 (1 chance in 4500); $400 (1 chance in 2800). Find the expected value of the amount won for one entry if the cost of entering is 71 cents. A) $0.51 B) $1.08 C) $0.69 D) $400
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 4ECP: Show that the probability of drawing a club at random from a standard deck of 52 playing cards is...
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Transcribed Image Text:4) The prizes that can be won in a sweepstakes are listed below together with the chances of winning
each one:
$3400 (1 chance in 8700); $2700 (1 chance in 5500); $900 (1 chance in 4500); $400 (1 chance in 2800).
Find the expected value of the amount won for one entry if the cost of entering is 71 cents.
A) $0.51
B) $1.08
C) $0.69
D) $400
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