The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 900 tickets. There is one $1,000 grand prize, three $500 second prizes, and fifteen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 900 tickets. There is one $1,000 grand prize, three $500 second prizes, and fifteen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.4: Collecting Data
Problem 3E
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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.
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![The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10
each and will sell 900 tickets. There is one $1,000 grand prize, three $500 second prizes, and fifteen $10
third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
%24
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Hint
Video on Expected Value (+]
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Transcribed Image Text:The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10
each and will sell 900 tickets. There is one $1,000 grand prize, three $500 second prizes, and fifteen $10
third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
%24
Hint:
Hint
Video on Expected Value (+]
Submit Question
17.217
NOV 1
17
tv
MacBook Air
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