The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $6 each and will sell 700 tickets. There is one $1,000 grand prize, three $400 second prizes, and fifteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: From the given information we want to find expected value of profit.
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
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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 information One ticket will win $2000 grand prizes four ticket will win $400 grand prizes…
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: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: Expected value- The expected value is predicted future value of an event taking place in the…
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: The cost of a single ticket is $5. Total tickets are 500.
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
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Q: If you randomly select a card from a well-shuffled standard deck of 52 cards, determine the…
A: you randomly select a card from a well-shuffled standard deck of 52 cards .
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: In order to raise money for a local senior citizen's home, the town council of Smallville decides to…
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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,
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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: Total tickets= 600 Prize Cost of ticket Winning amount =Prize - Cost of ticket Number of…
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: The probability distribution based on the given information is as follows:
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
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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…
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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: From the provided information, The students are selling tickets for $9 each and will sell 900…
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: It is given that the each selling ticket price is $8 and total number of tickets is 800. There is…
Q: In a raffle, one ticket out of 1,000 will win a $130 prize. The rest will win nothing. If you have a…
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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: Given that, 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…
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Q: Luis buys a bag of cookies that contains 7 chocolate chip cookies, 9 peanut butter cookies, 9 sugar…
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Q: Find the expected value: You bet $130, split in half on black and red
A: Given, Bet placed = 130 Split in half on black and red Bet placed on black = 65 Bet placed on red =…
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: It is given that the number of tickets is 600 and the numbers of prizes are 1 grand, 4 second, and…
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: Given: The student council is hosting a drawing to raise money for scholarships. Cost of one ticket…
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A: The solution of the problem is given in the next step.
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…
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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: Since you have posted multiple questions, we have provided answer for the first question only.…
Q: Assuming you were lucky enough to win and the pay off odds were 35:1, how much money would you get…
A: Given the pay off odds=35:1 Original bet=$5 35:1=(Net profit):(amount bet)
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: Dear student as per guidelines we answer the first question only when multiple different questions…
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: We can create a table for the given data, Price (X) no. Of tickets (f) 2000 1 400 2 20 11…
Q: Assuming you were lucky enough to win and the pay off odds were 35:1, how much money would you get…
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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: 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,…
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: Click to see the answer
Q: Harry tosses a nickel 4 times. What is the probability that he gets at least as many heads as…
A: According to the provided information, Harry tosses a nickel 4 times. PHead=12pTail=12
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