A radio station is having a contest. There is a vacation package worth $15,000. Three prizes are gift cards to a coffee shop worth $1000 each. Five prizes provided tutoring for your math course, worth $500 each. (a) Compute the expected value for this contest, assuming 10,000 people enter this contest. (b) What are the odds for winning the vacation package?
A radio station is having a contest. There is a vacation package worth $15,000. Three prizes are gift cards to a coffee shop worth $1000 each. Five prizes provided tutoring for your math course, worth $500 each. (a) Compute the expected value for this contest, assuming 10,000 people enter this contest. (b) What are the odds for winning the vacation package?
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section: Chapter Questions
Problem 35T
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