Grab Bags A convenience store has bag gifts and is offering them for $2.00 a bag. Ten bags contain merchandise worth $1.00. Six bags contain mer- chandise worth $2.00, and four bags contain merchan- dise worth $3.00. Suppose you purchase one bag. What is your expected gain or loss?

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: According to the provided information, the number of tickets they will sell is 900 and the cost for…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: The net gain for each prize is,

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Expected value: The expected value of a random variable is the sum of the possible values that the…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A:

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A:

Q: A local flower shop is selling $1 raffle tickets and is donating all proceeds to the children's…

A: The total income generate from the raffle tickets sold is $5500 Gifts are : 20 flower =$70…

Q: A 30-year-old man pays $230 for a one-year life insurance policy with coverage of $100,000. If the…

A: From the provided information, A 30-year-old man pays $230 for a one-year life insurance policy with…

Q: A convenience store has made up 20 grab bag gifts and is offering them for $2.00 a bag. Ten bags…

A: Given that, Total bags = 20

Q: Scholarship A is worth $3000 and costs $10 to apply. Scholarship B is worth $4000 and costs $25 to…

A:

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given Information:  They are selling tickets for $10 each and will sell 500 tickets. There is one…

Q: You buy a single raffle ticket for $10 for a chance to win a $500 jackpot. The raffle sells 200…

A: It is needed to give $10 to buy a ticket and once can win $500 as a jackpot.

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given information- We have given that the student council is hosting a drawing to raise money for…

Q: Is a 50/50 raffle a fair game? During a fundraiser a group sold 100 tickets for $20 each. From the…

A: Yes, it is a 50/50 raffle a fair game. During the fundraiser a group sold 100 tickets for $20 each.…

Q: alottery ticket costs you $5. 10,000 lottery tickets are sold with only one ticket can win $5,000.…

A: It was stated that a lottery ticket costs $5. 10,000 lottery tickets are sold with only one ticket…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given information- We have given that the student council is hosting a drawing to raise money for…

Q: An insurance policy sells for $1200. Based on past data, an average of 1 in 100 policyholders will…

A:

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given that selling tickets for $8 each and will sell 800 tickets And There is one $2,000 grand…

Q: (a) Find the expected value of playing the game. O dollars |(b) What can Jina expect in the long…

A:

Q: Scholarship A is worth $3000 and costs $10 to apply. Scholarship B is worth $4000 and costs $25 to…

A: Given data- Scholarship worth of A = $3000. Scholarship worth of B = $4000. Cost to apply A = $10.…

Q: at a raffle, 1500 tickets are sold at $2 each for four prizes of $500, $250, $150, and $75.  You buy…

A: Expected value:The expected value of a random variable is the sum of the possible values that the…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A:

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given information- No. of lottery ticket sold = 700 Price of a lottery ticket = $7 The prizes are:…

Q: During the NCAA basketball tournament season, affectionately called March Madness, part of one…

A: Given that n =2 , p=0.526

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A:

Q: petermine the expected value of the lottery Expected value Would you pay $1 for a ticket?

A: The grand prize is $30.5 million 1 million=1,000,000 30.5 million=30.5*1000000=30500000 That is,…

Q: Du are playing a game in which you flip 3 fair coins. It costs $5 to play the game, which must be…

A: Given: 3 coins are flipped sample space  = { HHH,HHT,HTH,THH,TTH,THT,TTH,TTT} n(s) = 8 if all coins…

Q: A nonprofit organization sells chances for a $40,000 classic Mustang at $100 per ticket. It sells…

A: Consider the provided data, Cost of each ticket is $100. Number of Raffle-tickets are 1500. Total…

Q: a conviecnce store has made up 20 grab bag gifts and is offering them for $2 a bag. ten bags contaon…

A:

Q: car. (If necessary, consult a list of formulas.) If the auto store knows that it will sell many of…

A: Here use probability distribution table for answer the question

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given that, Sell 600 tickets, $7 for each One $2000 grand prize Three $400 grand prize Twelve $10…

Q: A player tosses two fair coins. He wins $ 5 if 2 heads occur, $ 2 if 1 head occurs and 1 if no head…

A:

Q: You just bought one ticket. Find the expected value for your profit

A: here given, The student council is hosting a drawing to raise money for scholarships. They are…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given, selling tickets for $7  Number of tickets sold for each = 600

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given, Total tickets =800 Given data can be represented as below table. Cost of Ticket Prize…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: There are 700 tickets, where price of each ticket is $6.

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given problem Given that   The student council is hosting a drawing to raise money for…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given selling tickets for $9 each and will sell 500 tickets. one $2,000 grand prize three $200…

Q: Life insurance. You might sell insurance to a 20-year-old friend. The probability that a man aged 20…

A: The probability that a man aged 20 will die in the next year is about 0.0007. You decide to charge…

Q: Business projection: An investor is considering an investment in a start-up company. She estimates…

A:

Q: An architect is considering bidding for the design of a new shopping mall. The cost of drawing plans…

A: Given the cost of drawing plans and model is given as  $10,000. Probability of being awarded the…

Q: A psychology professor is studying whether a significant difference exists in the majors among…

A: Here,let X1 : represents the expected value of humanities majors, X2 : represents the expected value…

Q: A charity is selling 500 raffle tickets. One lucky person will win the grand prize of a Hawaiian…

A: Given information: Total number of tickets = 500 raffle tickets One lucky person will win the grand…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Profit: To earn profit by selling tickets for any show, meeting, or gathering, prize money is…

Q: Find the expected value for your profit.

A:

Q: Read and answer the following questions. Write your answers on a separate sheet of paper. 1. A…

A: Given: Number of tosses in a coin (n) = 3 Sample space = {HHH, TTT, HHT, HTH, THH, TTH, THT, HTT}…

Q: a). A 22-year-old male pays $275 for a 1-year $150,000 life insurance policy. What is the expected…

A: Expected value which is also known as the expectation, average value or the mean value is a long run…

Q: Chandler offers you the opportunity to play his $2 game where he shuffles four cards and you must…

A: Expected profit E(X)= x.P(X=x)

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs…

A: Probability of winning ticket is- P(winning ticket)=1150 Probability of losing ticket is- P(losing…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: They are selling tickets for $10 each and will sell 700 tickets. There is one $3,000 grand prize,…

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.