čommunity youth group having a raffle to raise funds. Several community businesses have donated prizes. The prizes and their retail value are listed in the table below. Each prize will be given away, regardless of the number of raffle tickets sold. Tickets are sold for $15 each. Determine the expected value of a ticket, and discuss whether it would be to your financial advantage to buy a ticket under the given circumstances. (Round your answer to the nearest cent.) Number of These Prizes to Be Given Away Prize Retail Value new car $21,580 a cell phone and a one- year subscription $940 1 a one-year subscription to an Internet service provider $500 2. dinner for two at $100 2. Spiedini's restaurant $180 a one-year subscription to the local newspaper. 20
čommunity youth group having a raffle to raise funds. Several community businesses have donated prizes. The prizes and their retail value are listed in the table below. Each prize will be given away, regardless of the number of raffle tickets sold. Tickets are sold for $15 each. Determine the expected value of a ticket, and discuss whether it would be to your financial advantage to buy a ticket under the given circumstances. (Round your answer to the nearest cent.) Number of These Prizes to Be Given Away Prize Retail Value new car $21,580 a cell phone and a one- year subscription $940 1 a one-year subscription to an Internet service provider $500 2. dinner for two at $100 2. Spiedini's restaurant $180 a one-year subscription to the local newspaper. 20
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 50E: Flexible Work Hours In a recent survey, people were asked whether they would prefer to work flexible...
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A community youth group is having a raffle to raise funds. Several community businesses have donated prizes. The prizes and their retail value are listed in the table below. Each prize will be given away, regardless of the number of raffle tickets sold. Tickets are sold for $15 each. Determine the expected value of a ticket, and discuss whether it would be to your financial advantage to buy a ticket under the given circumstances. (Round your answer to the nearest cent.)
(USE IMAGE FOR CHART)
(a) 1000 tickets are sold.
EV = $
(b) 2000 tickets are sold.
EV = $
EV = $
(b) 2000 tickets are sold.
EV = $
(c) 3000 tickets are sold.
EV = $
Transcribed Image Text:A community youth group is having a raffle to raise funds. Several community businesses have donated prizes. The prizes and their retail value are listed in the table below. Each prize
will be given away, regardless of the number of raffle tickets sold. Tickets are sold for $15 each. Determine the expected value of a ticket, and discuss whether it would be to your
financial advantage to buy a ticket under the given circumstances. (Round your answer to the nearest cent.)
Number of These Prizes
Prize
Retail Value
to Be Given Away
new car
$21,580
1
a cell phone and a one-
year subscription
$940
1
a one-year subscription
to an Internet service
$500
2
provider
dinner for two at
$100
2
Spiedini's restaurant
a one-year subscription
to the local newspaper.
$180
20
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