A charitable organization raises funds by selling 2000 raffle tickets for a first prize worth 500$ and a second prize worth 100$. What is the mathematical expectation of a person who buys one of the tickets?

Q: At the Royal Dragon Chinese​ restaurant, a slip in the fortune cookies indicates a dollar amount…

A: Given data: The total numbers of fortune cookies are n=10. The number of fortune cookies that…

Q: A faire dice is tussed twice Find the Probability that the two faces are the same CLEAR

A:

Q: Richie’s Insurance Company offers a $250,000 life insurance policy for a premium of $750 per year.…

A: Expected value :- E(X) = ∑xP(x)

Q: How much would the Bookstore manager pay to have perfect information? Use the information below…

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Q: In a game, you have a 1/43 probability of winning $142 and a 42/43 probability of losing $6. What is…

A: The probability of winning $142 is 1/43 and the probability of losing $6 is 42/43.

Q: ) In a game, you have a 1/36 probability of winning $94 and a 35/36 probability of losing ss. What…

A: Let X denote the value of the game.  Given that P(X = 94) = 1/36 P(X = -8) = 35/36

Q: In old gangster movies on TV, you often hear of "number runners" or the "numbers racket." This…

A: Number of digits = {0,1,2,3,4,5,6,7,8,9} => Total 10 digits are available,

Q: In a raffle, one ticket out of 1,000 will win a $130 prize. The rest will win nothing. If you have a…

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Q: A lottery offers one P400,000 prize, two P150,000 prizes, and four P25,000 prizes. Fifty thousand…

A:

Q: The sum of the probabilities of all possible outcomes is а. O>p>1 b. 0 ос. 1 d. all above

A: we know that the properties of probability is1) The probability value is always lies between0 and…

Q: As the manager of a hedge fund, your yearly investment strategy entails a large “left-tail” risk…

A: As the manager of a hedge fund, your yearly investment strategy entails a large “left-tail” risk…

Q: In a game called chuck - a - luck, a player will select any number from 1 to 6, and make a bet. A…

A: Given problem Given that   In a game called chuck - a -luck , a player will select any number from…

Q: 1. Suppose 100,000 tickets are sold on a lottery. Three prizes are at stake; P25,000 for the first,…

A: Given that there are 100000 tickets that are sold.  There is only one first, second, and third…

Q: According to a study conducted by a university, children who are injured three or more times tend to…

A:

Q: The sum of the probabilities of all possible outcomes is а. all above b. 1 O C. d. O>p>1

A: GivenThe sum of the probabilities of all possible outcomes is

Q: A lawyer considering taking a case figures that there is a 40% chance of winning the case in court…

A: The expected payoff of the case for the firm is obtained below: From the given information, there is…

Q: Does it pay to ask for a raise? A national survey of heads of households showed the percentage of…

A: a) It is given that 20% of the men asked for a raise. The probability that man asked for a raise is…

Q: A lottery offers one 400,000 prize, two 150,000 prize and four 25,000 prizes. Fifty thousand tickets…

A: The probability of winning 400,000 prize is equal to P(winning 400,000) = 150,000 The probability of…

Q: A raffle offers one $800 prize, two $400 prizes and 6 $100 prizes. Two thousand tickets are sold at…

A: Given that total n=2000 tickets are sold. For each ticket the price is $50. A raffle one prize of…

Q: One of the wagers in the game of roulette is to place a bet that the ball will land on a red number.…

A: Given: Number of black numbers, n(B)=18. Number of red numbers, n(R)=18. Number of green numbers,…

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $15 on the number 29…

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Q: In an article about investment alternatives, Money magazine reported that drug stocks provide a…

A: Given:

Q: In what situations we can use probability in real life?

A: In real life, we can use probability for weather forecasting. We can gather data from the previous…

Q: At the Royal Dragon Chinese restaurant, a slip in the fortune cookies indicates a dollar amount that…

A:

Q: The sum of the probabilities of all possible outcomes is Оа. all above b. 1 С. d. O>p>1

A: Solution-: We know that,  Axioms of probability: Let, A be the any event of 1) 2) 3) If Are any…

Q: The odds that Mario wins a certain game with a prize of P 10,000 are 5 to 7. What is his…

A: Given that odds of winning are 5 to 7.  So the probability of winning  is 55+7=512 Amount of the…

Q: 1. Assume that the current price of Microsoft stock is $28 per share. What is the probability that…

A: The given current price of the stock is S=28 Let K=35 To calculate the probability of the price of…

Q: At a lottery competition, a person pays 20R to participate in the competition. If he rolls two dice…

A: Expected gain = sum(p*x)

Q: 5. A charitable organization raises funds by selling 2000 raffle tickets for a first prize worth…

A:

Q: Would you pay $10 per throw of two dice if you were to receive a number of dollars equal to the…

A: Possible number of outcomes when rolling two dice are…

Q: A game has an expected value to you of ​$400. It costs ​$400 to​ play, but if you win you receive​…

A: Given Information :  A game has an expected value to you of ​$400. It costs ​$400 to​ play, but if…

Q: A City of Quincy raffle offers one $800 prize, two $400 prizes and seven $100 prizes. Two thousand…

A: one $800 prize two $400 prizes seven $100 prizes. Two thousand tickets are sold at $50 each.

Q: At the Royal Dragon Chinese restaurant, a slip in the fortune cookies indicates a dollar amount that…

A: There are 10 fortune cookies.

Q: While watching a game of Champions League football in a cafe, you observe someone who is clearly…

A: Define some events A: person is born within 25 miles of Manchester B: person is not born within 25…

Q: If p represents the probability of success of a player in any game and M represents the sum of money…

A: Let p be the probability of success  of a player in any game  M be the sum of money

Q: In a proposed business venture, a company estimates that there is a 60% chance the company will make…

A: Introduction: Hey there! Thank you for the question. As you have posted multiple questions,…

Q: A blackjack player at a Las Vegas casino learned that the house will provide a freeroom if play is…

A: a) It is given that a blackjack player at a casino observed that a house will provide a free room…

Q: Examine the table above . The insurance company does not know the probabilities of falling sick for…

A: The table shows the probability of falling sick of individuals and the total insured income to be…

Q: A blackjack player at a Las Vegas casino learned that the house will provide a freeroom if play is…

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Q: What did the insurance company charge Charlie for this policy if the company expected to break even?

A: Here given Charlie buys a one-year term home insurance policy for $p, that will pay $200,000 in the…

Q: Question10 Anthony feels that he has a 75% chance of getting an A in Business statistics and a 55%…

A: Given, Probability(getting an A in business statistics)=P(B)=75%=0.75 Probability(getting an A in…

Q: Does it pay to ask for a raise? A national survey of heads of households showed the percentage of…

A: Given: The raise was asked by 20% of the men and 64% of the men who asked for a raise received it.

Q: Richies insurance company offers a 250,000 life insurance policy for a premium of $750 per year. If…

A: Let X be the net value of the policy to the insurance company. X be the discrete random variable.…

Q: At a​ raffle, 10,000 tickets are sold at​ $5 each for three prizes valued at​ $4,800, $1,200, and​…

A:

Q: At the Royal Dragon Chinese restaurant, a slip in the fortune cookies indicates a dollar amount that…

A: From the given information we want to find the expected amount.

Q: In old gangster movies on TV, you often hear of "number runners" or the "numbers racket." This…

A: question: In old gangster movies on TV, you often hear of "number runners" or the "numbers racket."…

Q: At the Royal Dragon Chinese restaurant, a slip in the fortune cookies indicates a dollar amount that…

A:

Q: Answer the following. If a die is rolled, find the probabilities. G. Of getting a number greater…

A: Given a die is rolled.

Q: What is the mathematical expectation for playing the game with the coin being a quarter dollar?…

A: From the question we get , There are 20 figures in each wheel The probability of getting a figure x…

Q: Suppose that Y measures the amount of money you win from a game. Considering the expectation you…

A: Given that: Y measures the amount of money you win from a game. Considering that expectation was…