You buy a single raffle ticket for $10 for a chance to win a $500 jackpot. The raffle sells 200 tickets. One ticket is selected at random to determine the winner. What is the expected value of your net gain when purchasing one ticket for the raffle?

Q: What is the expected value? a. 2.79 O b. 1.97 O c. 2.97 o d. 1.79 How should the expected value be…

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

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Q: Sa(2) = {, n= 4 What is the expected value of the random variable x? E(x)=?

A: The probability distributive function is fxx=n+1cx3,     0≤x≤20,                  otherwise

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: 5. In a proposed business venture, a company estimates that there is a 60% chance the compaHY chance…

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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: Q2: A- Find the probability distribution of the random variable y, which represents the number of…

A: Tossing a balanced coin Getting a Head 0.5 Getting a Tail 0.5   E(x) = ∑xp(x)Var(x) =…

Q: Giving a test to a group of students, the grades and gender are summarized below A Total Male 10 16…

A: Solution : Given :                                A           B             C            Total Male…

Q: You have 4 quarters and 2 dimes in your pocket. You draw two out at random. What is the expected…

A: If we pick 2 coins then 3 cases can happen

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: You roll a coin 200 times, what is the expected number of heads? O 1/2 200 100 100%

A: The given question is related with expected value. We have to find the expected number of heads when…

Q: Refer to the table to find the missing probability and then find the expected value. Outcome value,…

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Q: What is the expected value (to you) of one raffle ticket? $ Calculate the expected value (to you)…

A: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3.…

Q: An investor bought 1,500 shares of a stock for $6 a share. He estimates the probability that the…

A: An investor bought 1,500 share of a stock for $6 a share. The total value is 1500×6=9,000. The…

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

A: As per bartleby guidelines only first three subparts are to be solved. Please upload other parts…

Q: Chauncey Billups, a current shooting guard for the Los Angeles Clippers, has a career free-throw…

A: Option (c) is right.

Q: Q6. What is the probability of getting the expected number of Heads from 20 tosses of a fair coin…

A: Here, X follows binomial with n= 20 and p= 0.5.   The expected number of heads is E(X) =np =20× 0.5…

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: Under the null hypothesis that there is no association between pizza size and pizza topping, what is…

A: Given data, Size Pepperoni Veggi Cheese Row total Small 18 11 6 35 Medium 14 12 7 33 Large…

Q: In a game, you have a 1/48 probability of winning $55 and a 47/48 probability of losing $9. What is…

A: From the provided information, The probability of winning of $55 = 1/48 The probability of losing of…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3.…

A: Given information- Cost of a raffle ticket = $3 Total no. of tickets sold = 270 So, the probability…

Q: Choose a card from a standard deck of 52 playing cards. If you choose a 2 through 10, you will get…

A: Given information:  Total number of cards = 52 Winning amount on choosing a Jack, Queen or King =…

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: One thousand tickets are sold at $1 each for four prizes of $100, $50, $25, and $10. What is the…

A: Introduction: Denote the random variable X as the amount of win on purchasing one ticket, and p (x)…

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: b)Find the value of C and D c)  Find the expected proportion of what he will understand in the…

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Q: Bill and Suzie are playing a game with two dice. If the sum is less than 5 or a 9 Bill gets 5…

A: Given information: If the sum is less than 5 or a 9 Bill gets 5 points. Otherwise, Suzie gets 3…

Q: At a raffle, 10,000 tickets are sold at $5 each for three prizes valued at $4800, $1,200, and $400.…

A: Note: Hi there! Thank you for posting the questions. As there are several independent questions,…

Q: Hector plays a game with a friend. They pay $2 and roll a 6-sided die. If the die comes up a 3 or…

A: Given Data: Profit (x) P(x) x P(x) -2 2/6 -4/6 5 4/6 20/6

Q: The probability of a player scoring a goal is 0.70. what is the probability that a the 5th goal is…

A: According to the provided information, x=8 r=5 p=0.7

Q: You are picking candies out of a bag without looking. The contents of the bag are described in the…

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Q: The expected value for the sum of draws is...

A: One hundred draws are going to be made with replacement from the box containing tickets -1, 0, 1, 1.…

Q: You play a game where you select one of three envelopes. You pay $2 to select once. One envelope has…

A: From the given information, Consider, X be the gain or winning amount. Pr( probability of selecting…

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: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3.…

A:

Q: A bag of marbles contains 2 gold marbles, 10 silver marbles, and 30 black marbles. You decide to…

A: Solution: It is given that:A bag of marbles contains 2 gold marbles, 10 silver marbles, and 30 black…

Q: A casino features a game in which a weighted coin is tossed several times.The table shows the…

A: According to the provided data, a weighted coin is tossed several times. The table below shows the…

Q: Michelle used a standard deck of 52 cards and selected a card at random. After recording the suit of…

A: The deck contains 52 cards. The events of selecting a heart and selecting a club are disjoint since…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $4.…

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

Q: Find the expected value for your profit.

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Q: Giving a test to a group of students, the grades and gender are summarized below B Total Male 18 17…

A: Answer : P[Female OR 'A'] = 0.4531

Q: A radio station is having a contest. There is a vacation package worth $15,000. Three prizes are…

A: Vacation package worth $15,000 Coffee shop worth $1000 Tutoring math course worth $500 No of people…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $2.…

A: We know Expected Value is the average gain or loss if the event is occured many times Concept Used:-…

Q: Kentucky Derby Odds When the horse California Chrome won the 140th Kentucky Derby, a $2 bet on a…

A: a)Here, the bet ticket is $2 and the result is winning ticket worth is $7.

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: You have 4 quarters and 2 dimes in your pocket. You draw two out at random. What is the expected…

A: If we pick 2 coins then 3 cases can happen: Cases Number of ways Probability(pi) Amount(xi) 1)…

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: An architect is considering bidding for the design of a new museum. The cost of drawing plans and…

A: We first make a table using the given information Winning amount (xi) 170,000-17,000=153,000…

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.