I don't really understand what I have to do here. Can someone help me please. There's three attachments

At a raffle, 1500 tickets are sold at $2 each. There are four prizes given for $500, $250, $150, and $75. You buy one ticket. Us

wolverine [178]

Answer:

The expected value of every ticket is a loss of $ 1.35

Step-by-step explanation:

1. Let's review the information provided to us to answer the question correctly:

Number of tickets sold at the raffle = 1,500

Price of each ticket = $ 2

Total prizes = 1 * $ 500 + 1 * $ 250 + 1 * $ 150 + 1 * $ 75

2. Use a probability distribution table to calculate the expected value of your gain. Your expected value is_____ ?

Let's answer the question using a probability distribution for the gains, this way:

Probability of 1st prize of $ 498 (500 - ticket) = 1/1,500
Probability of 2nd prize of $ 248 (250 - ticket) = 1/1,500
Probability of 3rd prize of $ 148 (150 - ticket) = 1/1,500
Probability of 4th prize of $ 73 (75 - ticket) = 1/1,500
Probability of losing $ 2 (ticket) = 1,496/1,500

Now, we calculate the mean for all the tickets (winners and non-winners), this way:

Expected value = [(1,496 * -2) + (1 * 498) + (1 * 248) + ( 1 * 148) + ( 1 * 73)]/1,500

Expected value = [- 2,992 +498 + 248 + 148 + 73)/1,500

Expected value = -2,025/1,500 = - 1,35

The expected value of every ticket is a loss of $ 1.35

8 0

3 years ago

What is the relationship between the measure of an angle and the reflex measure of the angle?

Alenkinab [10]

Let the measure of an angle be 'x'
Then the reflex angle will be measured by the formula (360-x)
x +(360-x) = 360

3 0

3 years ago

7. Find x, round to nearest degree. A 15 xo 20 B.

Marizza181 [45]

Answer:37 degrees

The processed I used to solve is below. If you have an questions let me know!

8 0

3 years ago

4. A florist buys roses at $18 per dozen. If she sells

Bingel [31]

Step-by-step explanation:

According to 18 per dozen

18 ÷ 12 = 1.5

So she sells for 1.20

1.5 - 1.20 = 0.3

Or 25 %

8 0

3 years ago

You have a 500-foot roll of chain link fencing and a large field. You want to fence in a rectangularplayground area. What are th

exis [7]

The length of the fencing is 500 foot

That means the perimeter of the playground = 500

Assume that the dimensions of it are x and y

So 2x + 2y = 500 ---- perimeter of the rectangular yard

Divide both sides by 2

x + y = 250

Now subtract the two sides by x to find y in terms of x

x - x + y = 250 - x

y = 250 - x --------(1)

Since we need to find the maximum area, let us find the area in terms of x and y

Area of the yard is A

A = xy -------- area the rectangle

Now substitute y by (1)

A= x(250 - x)

A = 250x - x^2

For the maximum area, we will differentiate A with respect to x

$\frac{dA}{dx}=250-2x$

For maximum area equate dA/dx by zero

Since dA/dx = 0

250 - 2x = 0

Add 2x for both sides

250 - 2x + 2x = 0 + 2x

250 = 2x

Divide both sides by 2

125 = x

3 0

1 year ago