A family of four spent $104 for tickets to a concert on Friday and they spent $140 for tickets to dinner theater on Saturday.Wha
2 answers:
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Answer:
(a) 31101
(b) $5.65
(c) $113.38
Step-by-step explanation:
The complete question is:
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 $20,000, a $125 gas card, or a $5 shopping card. To claim his or her prize, a prospective print on the back of the flier listed the probabilities of winning. The chance of winning the car was 1 out of 31,101, the chance of winning the gas card was 1 out of 31,101, and the chance of winning the shopping card was 31, 099 out of 31,101.
Solution:
The information provided is as follows:
(a)
The number of fliers the automobile dealership sent out is, <em>n</em> = 31,101.
This is because the probability of winning any of the three prize is out of 31,101.
(b)
Compute the expected value of the prize won by a prospective customer receiving a flier as follows:
Thus, the expected value of the prize won by a prospective customer receiving a flier is $5.65.
(c)
Compute the standard deviation of the prize won by a prospective customer receiving a flier as follows:
Thus, the standard deviation of the prize won by a prospective customer receiving a flier is $113.38.