Solve for the value of n.
2 answers:
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Answer:
The expected winnings for a person buying 1 ticket is -0.2.
Step-by-step explanation:
Given : A raffle offers a first prize of $1000, 2 second prizes of $300, and 20 third prizes of $10 each. If 20000 tickets are sold at 25 cents each, find the expected winnings for a person buying 1 ticket.
To find : What are the expected winnings?
Solution :
There are one first prize, 2 second prize and 20 third prizes.
Probability of getting first prize is
Probability of getting second prize is
Probability of getting third prize is
A raffle offers a first prize of $1000, 2 second prizes of $300, and 20 third prizes of $10 each.
So, The value of prizes is
If 20000 tickets are sold at 25 cents each i.e. $0.25.
Remaining tickets = 20000-1-2-20=19977
Probability of getting remaining tickets is
The expected value is
Therefore, The expected winnings for a person buying 1 ticket is -0.2.
Step-by-step explanation:
It is given that, a mouse covered a distance of 3/24 miles over a distance of 3 hours. Each hour, the mouse traveled the same distance. Distance traveled in 1 hour can be calculated by dividing 3/24 miles by 3. So,
Matt calculations shows that the distance is 3/8 hours. While dividing 3/24 by 3, he doesn't take reciprocal of 3 as a result he get 9 on numerator and 24 on denominator. Simplified fraction of 9/24 is 3/8. But the correct answer should be 1/24 hours.