The "expected value of a ticket" is the probability of being drawn multiplied by the earnings associated to being drawn.
($1 is the price of the ticket which of course can be different).
So in this case probability is 1/2000 and the earnings would be valued $1000 (value of the plasma TV).
The expected value is 1/2000*1000=1000/2000=$0,5
This means you should not buy a $1 ticket to play except if this really brings you LOTS of amusement ;)
Answer:
Step-by-step explanation:
Follow the following steps
Answer:
Step-by-step explanation:
Chance of picking a house 1 year old is 17%
Chance of picking a house 2 years old is 22%
Chance of picking a house 3 years old is 28%
Chance of picking a house 4 years old is 33%
The only graph most fitting is the top graph of the first answer choice picture or:
5 shirts for $21
the 6 deal would be $4.25 for each shirt
4 deal would be $4.50 for each shirt
and the 5 deal is the cheapest because its $4.20 for each shirt
Answer:
8/21
I don't think that it can be simplified further....
