An online gambling site offers a first prize of $5000, a second prize of $3000, and a third prize of $1000. It costs $10 to enter and the winner is selected at random. What are the expected net winnings if 2000 people enter the contest?
An online gambling site offers a first prize of $5000, a second prize of $3000, and a third prize of $1000. It costs $10 to enter and the winner is selected at random. What are the expected net winnings if 2000 people enter the contest?
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 5ECP: In Example 5, what is the probability that an institution selected at random is in the Pacific...
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An online gambling site offers a first prize of $5000, a second prize of $3000, and a third prize of $1000. It costs $10 to enter and the winner is selected at random. What are the expected net winnings if 2000 people enter the contest?
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