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regional automobile dealership sent out fliers to prospective customers indicating that they had already won one of three different​ prizes: an automobile valued at $28,000​, a $125 gas​ card, or a ​$5 shopping card. To claim his or her​ prize, a prospective customer needed to present the flier at the​ dealership's showroom. The fine print on the back of the flier listed the probabilities of winning. The chance of winning the car was 1 out of 31,197​,the chance of winning the gas card was 1 out of 31,197, and the chance of winning the shopping card was 31,195 out of 31,197. a. How many fliers do you think the automobile dealership sent​ out? Assume there is one car and one gas card available.   = 31197 fliers b. Using your answer to​ (a) and the probabilities listed on the​ flier, what is the expected value of the prize won by a prospective customer receiving a​ flier? (Round to the nearest cent as​ needed.) = 5.90 c. Using your answer to​ (a) and the probabilities listed on the​ flier, what is the standard deviation of the value of the prize won by a prospective customer receiving a​ flier? (Round to the nearest cent as​ needed.)

regional automobile dealership sent out fliers to prospective customers indicating that they had already won one of three different​ prizes: an automobile valued at $28,000​, a $125 gas​ card, or a ​$5 shopping card. To claim his or her​ prize, a prospective customer needed to present the flier at the​ dealership's showroom. The fine print on the back of the flier listed the probabilities of winning. The chance of winning the car was 1 out of 31,197​,the chance of winning the gas card was 1 out of 31,197, and the chance of winning the shopping card was 31,195 out of 31,197. a. How many fliers do you think the automobile dealership sent​ out? Assume there is one car and one gas card available.   = 31197 fliers b. Using your answer to​ (a) and the probabilities listed on the​ flier, what is the expected value of the prize won by a prospective customer receiving a​ flier? (Round to the nearest cent as​ needed.) = 5.90 c. Using your answer to​ (a) and the probabilities listed on the​ flier, what is the standard deviation of the value of the prize won by a prospective customer receiving a​ flier? (Round to the nearest cent as​ needed.)

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.8: Probabilities Of Disjoint And Overlapping Events
Problem 2C
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A regional automobile dealership sent out fliers to prospective customers indicating that they had already won one of three different​ prizes: an automobile valued at $28,000​, a $125 gas​ card, or a ​$5 shopping card. To claim his or her​ prize, a prospective customer needed to present the flier at the​ dealership's showroom. The fine print on the back of the flier listed the probabilities of winning. The chance of winning the car was 1 out of 31,197​,the chance of winning the gas card was 1 out of 31,197, and the chance of winning the shopping card was 31,195 out of 31,197.

a. How many fliers do you think the automobile dealership sent​ out? Assume there is one car and one gas card available.
 
= 31197 fliers

b. Using your answer to​ (a) and the probabilities listed on the​ flier, what is the expected value of the prize won by a prospective customer receiving a​ flier? (Round to the nearest cent as​ needed.) = 5.90

c. Using your answer to​ (a) and the probabilities listed on the​ flier, what is the standard deviation of the value of the prize won by a prospective customer receiving a​ flier? (Round to the nearest cent as​ needed.)

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