Answer:
Expected value of raffle = $-0.67
Step-by-step explanation:
Number of tickets sold = 5,000
Selling price of each ticket = $1
1 prize = $500
3 prizes = $300
5 prize = $30
20 prizes = $5
The value of each ticket is given by
value = $500*(1/5000) + $300*(3/5000) + $30*(5/5000 + $5*(20/5000)
value = $0.1 + $0.18 + $0.03 + $0.02
value = $0.33
The expected value is
Expected value = value - selling price
Expected value = $0.33 - $1
Expected value = -$0.67
Therefore, the expected value of this raffle is -$0.67 if you buy 1 ticket.
The negative sign means that you are most likely to lose $0.67 if you buy a raffle ticket for $1.
Answer:
please find attached pdf
Step-by-step explanation:
Answer:
What do you mean and whats the question
Step-by-step explanation:
???
In this situation, the cases are the bags or each piece of baggage.
<h3>What is a case?</h3>
In statistics, the word case is used to refer to the individual from which data is collected. For example, in a study about students' performance, the cases are each of the students.
<h3>What is the case in this situation?</h3>
Considering the administrators will need to weight and record each bag, the cases are each piece of baggage.
Note: This question is incomplete; here are the missing options:
A. Number of bags weighing more than 75 pounds.
B. Average weight of the bags.
C. Each piece of baggage.
D. The airport administrators.
Learn more about statistics in brainly.com/question/8058700
#SPJ1
Answer:
15%
Step-by-step explanation:
First, let's find how many pounds the dog's weight increased by during the year.
80 - 64 = 16
Now, knowing that the dog's weight increased by 16 pounds, we can use that to figure out the percentage of 16 out of 64 (divide them, then multiply by 100 to get a percentage).
• 100 = 0.25 • 100 = 25%
