A contest at a fast-food restaurant offered the cash prizes and probabilities of winning on one visit shown to the rnight Suppose you spend $1 to buy a bus pass that lets you go to 22 different restaurants in the chain and pick up entry forms. Find your expected value. Prize $100,000 $25.000 $5,000 $1,000 $100 Probablity 1/8,352.000 1/1,670,400 1/835,200 1/104,400 1/20,880 $5 1/5,220 $1 1/580 The expected value is (Round to the nearest cent as needed. Do not include the $ symbol your answer)

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
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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A contest at a fast-food restaurant offered the cash prizes and probabilities of winning on one visit shown to the right. Suppose
you spend $1 to buy a bus pass that lets you go to 22 different restaurants in the chain and pick up entry forms. Find your
expected value.
Prize
$100,000
$25,000
$5,000
$1,000
$100
Probability
1/8,352,000
1/1,670,400
1/835,200
1/104,400
1/20,880
1/5,220
$5
$1
1/580
The expected value is
(Round to the nearest cent as needed. Do not include the $ symbol in your answer.)
Transcribed Image Text:A contest at a fast-food restaurant offered the cash prizes and probabilities of winning on one visit shown to the right. Suppose you spend $1 to buy a bus pass that lets you go to 22 different restaurants in the chain and pick up entry forms. Find your expected value. Prize $100,000 $25,000 $5,000 $1,000 $100 Probability 1/8,352,000 1/1,670,400 1/835,200 1/104,400 1/20,880 1/5,220 $5 $1 1/580 The expected value is (Round to the nearest cent as needed. Do not include the $ symbol in your answer.)
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