If you pay the $5 price to buy one ticket for the PTK Thanksgiving fundraiser, what is the expected value (to you) of the transaction overall? Round to the nearest cent.

Q: A local youth group is selling raffle tickets to raise money for a trip. A raffle ticket costs $4.…

A:

Q: Richie’s Insurance Company offers a $250,000 life insurance policy for a premium of $750 per year.…

A: Expected value :- E(X) = ∑xP(x)

Q: Suppose the probability of an IRS audit is 2.0 percent for u.s taxpayers who file form 1040and who…

A: Given information- The probability of an IRS audit is 2.0 percent for U.S taxpayers. So, Number of…

Q: A grab bag contains 12 packages worth $0.80, 15 packages worth $0.40 and 25 packages worth $0.30.…

A: A garb contains totally 52 packages in which 12 packages worth $0.80, 15 packages worth $0.40 and 25…

Q: In a game, you have a 1/43 probability of winning $142 and a 42/43 probability of losing $6. What is…

A: The probability of winning $142 is 1/43 and the probability of losing $6 is 42/43.

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) If the grand prize is $12,000,000, find and interpret the expected cash prize. If a ticket costs…

A: The mean of a probability can be calculated as: The calculation for the given data is

Q: b. If the 31-year-old male purchases the policy, what is his expected value? The expected value is $…

A:

Q: ) In a game, you have a 1/36 probability of winning $94 and a 35/36 probability of losing ss. What…

A: Let X denote the value of the game.  Given that P(X = 94) = 1/36 P(X = -8) = 35/36

Q: In a raffle, one ticket out of 1,000 will win a $130 prize. The rest will win nothing. If you have a…

A:

Q: If records indicate that 2 houses out of 1000 are expected to be damaged by fire in any year, what…

A: Let us denote X= number of damaged houses Given that the probability of a damaged house= 2/1000 =…

Q: Suppose the probability of an IRS audit is 5.3 percent for U.S. taxpayers who file form 1040 and who…

A: From the provided information, The probability of an IRS audit is 5.3 percent for U.S. taxpayers who…

Q: A 40-year-old man in the U.S. has a 0.243% risk of dying during the next year . An insurance company…

A: Given data Probability of dying = 0.00243 Cost for the insurance = $290 Insurance company will pay…

Q: Convert the percentages to probabilities and make a hist 0.5 0.4 0.3 (X)

A: Given, a) Histogram :

Q: What is the expected value of rolling the six-sided number cube represented by the net? Express your…

A: Solution is given as:

Q: A 40-year-old man in the U.S. has a 0.245% risk of dying during the next year . An insurance company…

A: In this case, The probability of dying=0.245%…

Q: What is the probability a randomly chosen person Favors the smoking ban? Round to the nearest whole…

A: Total sample size, n  = 72 Number of people who favor the smoking ban = 28 + 25 = 53

Q: If the odds of winning on a scratch-off lottery ticket are 17:2,834, what is the probability of…

A: From the provided information, The odds of winning on a scratch-off lottery ticket are 17:2834

Q: What is the probability of flipping a coin 50 times and getting tails 24 times or fewer? Round your…

A: Let p be the probability of getting a tail. Then p = 0.5 Let X denote the number of tails in tossing…

Q: Find the empirical probability of flipping a coin 10 times

A: We need to find the emperical probability of flipping a coin 10 times Emperical probability is…

Q: rizes at stake are, a laptop worth Php35,000, What is the expected value of your gain? Note: Do not…

A: Given A school club is organizing a fundraising campaign by selling raffle tickets. There are 1000…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5.…

A: Using the given info we make a table Winning amount (xi) 96 0 Total Frequency 1 (210-1)=209 210…

Q: Suppose the probability of an IRS audit is 1.5 percent for U.S. taxpayers who file form 1040 and who…

A: 1.5 of them was audited for every 100 taxpayers who file form 1040 and who received $100,000 or…

Q: A 40-year-old man in the U.S. has a 0.241% risk of dying during the next year . An insurance company…

A: According to the given information, Risk of dying next year = 0.241% Charges of insurance company…

Q: A company estimates that 0.7% of their products will fail after the original warranty period but…

A: Given that the company estimates that 0.7% of their products will fall after the original warranty…

Q: find the probability that the student owns a car OR works full-time.

A: Given that Number students own a car = 34 Number of students work full time = 24 Number of students…

Q: What is the probability that a consumer we select randomly either spends 0-2 hours shopping on the…

A: The probability that a consumer we select randomly either spends 0-2 hours shopping on the internet…

Q: Suppose you flip a fair coin twice. What is the probability that the outcome is the same both times?…

A: Consider the head surface of the coin is H and the tail surface is T. The coin flips twice.…

Q: Suppose the probability of an IRS audit is 3.1 percent for U.S. taxpayers who file form 1040 and who…

A: Given,     Probability of IRS audit is P = 3.1%…

Q: At a lottery competition, a person pays 20R to participate in the competition. If he rolls two dice…

A: Expected gain = sum(p*x)

Q: (b) What is the probability that the bill was not paid on time? Round your answer to four decimal…

A:

Q: Your school is selling raffle tickets as a fundraiser. They sell tickets for $5 each, there are 10…

A:

Q: In a major city, between 2012 and 2017, the police made 300,000 (what are called) investigatory…

A: Note: Hey there! Thank you for the question. We do not have access to the math plug-ins mentioned in…

Q: Suppose the probability of an IRS audit is 1.4 percent for U.S. taxpayers who file form 1040 and who…

A: Given : Suppose the probability of an IRS audit is 1.4 percent for U.S. taxpayers who file form 1040…

Q: There is a new type of scratch-off ticket for $60 to win one of 7 prizes of $10,000 or the grand…

A: The following data is given in the question:  Total number of tickets to be sold is 9,000 Price of…

Q: What is the probability that a card drawn randomly from a standard deck of 5252 cards is an ace?…

A: Obtain the probability that a card drawn randomly from a standard deck of 52 cards is an ace   The…

Q: In a proposed business venture, a company estimates that there is a 60% chance the company will make…

A: Introduction: Hey there! Thank you for the question. As you have posted multiple questions,…

Q: A construction company is planning to bid on a building contract. The bid costs the company $1300.…

A: We first make a table using the given information Gained amount (xi) 68000-1300=66700 -1300…

Q: One thousand tickets are sold at P150 each for a color television valued at P54,000. What is the…

A: Solution-: Cost of ticket =P150 Number of tickets=1000 Value of a price =P54000 We find the expected…

Q: a) If the grand prize is $12,000,000, find and interpret the expected cash prize. If a ticket costs…

A:

Q: Richies insurance company offers a 250,000 life insurance policy for a premium of $750 per year. If…

A: Let X be the net value of the policy to the insurance company. X be the discrete random variable.…

Q: A card is drawn from 52 playing cards. If the card drawn is a diamond card, what is the probability…

A:

Q: Suppose the probability of an IRS audit is 1.2 percent for U.S. taxpayers who file form 1040 and who…

A: Given information- We have given the probability of taxpayers who file form 1040 and who earned…

Q: A 40-year-old man in the U.S. has a 0.244% risk of dying during the next year . An insurance company…

A: It is given that, Revenue of the insurance company = $300. Cost of the insurance company = $…

Q: If our goal was to play roulette so that we can "win it big". What does the expected value of a bet…

A: We all dream of winning big, becoming an instant millionaire; but how likely is that?

Q: Amari's family is moving to California and would like to purchase fire insurance. The insurance…

A: Here  w  = net gain for insurance company per policy  Probability of fire happens 0.0008 And…

Q: What is the probability that the forecast of earnings is between $9 and $10 per share?

A: Total frequency = 11+14+18+14+7 = 64 Frequency for category 9 upto 10 = 11

Q: In a proposed business venture, a businesswoman estimates there is a 60% chance she will make…

A: Given: There are 60% chances that she will make $52000 and 40% chances that she will lose $53000. To…

Q: Calculate the expected value of the lottery: ?=(0.55,200;0.25,400;0.2,600)

A: