A community festival sells 20,000 raffle tickets for $10 each. There are 4 possible prize levels. The grand prize is a golf cart valued at $6,000. There are two winners of $1,000, three winners of $500, and ten winners of $100. What is the expected value of a raffle ticket?Round to the nearest cent. Do not round until the final calculation.

A Community Festival Sells 20,000 Raffle Tickets For $10 Each. There Are 4 Possible Prize Levels. The

Answers

Answer 1

Given

Community festival sells 20,000 raffle tickets for $10 each.

4 possible prize levels:

grand prize -$6,000.

two winners of $1,000

three winners of $500

ten winners of $100

Find

Expected value of a raffle ticket

Explanation

x = 6000 , P(x) = 1/20000 , xP(x) = 0.3000

x = 1000 ,P(x) = 2/20000 , xP(x) = 0.1000

x = 500 , P(x) = 3/20000 , xP(x) = 0.07500

x = 100, P(x) = 10/20000 , xP(x) = 0.05000

Total xP(x) = 0.3000 + 0.1000 + 0.0750 + 0.0500 = 0.525

\(mean=\sum_^xP(x)=0.525\)

expected value of a raffle ticket = 0.525 - 1 = - $ 9.48

Final Answer

Therefore, the expected value of a raffle ticket = -$9.48


Related Questions

The window above Matt's front door is shaped like a triangle.
How many equal-length sides does the window have?
Enter the correct answer in the box.

PLEASE HELP

The window above Matt's front door is shaped like a triangle.How many equal-length sides does the window

Answers

Answer:

It has 2 equal side lengths

if p(e and f)=.392, p(e/f)=.56 and p(f/e)=.7, then p(e)=​

Answers

On solving the provided question, we can say that Probability(A and B) = P(A)P(B|A) and P(E or F) = P(E) + P(F) - P(E and F)

What is probability?

Probability theory, a subfield of mathematics, gauges the likelihood of an occurrence or a claim being true. An event's probability is a number between 0 and 1, where approximately 0 indicates how unlikely the event is to occur and 1 indicates certainty. A probability is a numerical representation of the likelihood or likelihood that a particular event will occur. Alternative ways to express probabilities are as percentages from 0% to 100% or from 0 to 1. the percentage of occurrences in a complete set of equally likely possibilities that result in a certain occurrence compared to the total number of outcomes.

Probability(A and B) = P(A)P(B|A).

P(A and B) = P(B and A), this may also be written as P(A and B) = P(B)P(A|B).

Using the general multiplication rule, we have

P(E and F) = P(E)P(F|E)

.392 = P(E)(.7)

P(E) = .56

   P(E and F) = P(F)P(E|F)

.392 = P(F)(.56), so

P(F) = .7

P(E or F) = P(E) + P(F) - P(E and F)

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A company produces two products: A and B. The relative market values at the split-off point are not available. For every $300,000 of joint costs, Product A produces 10,000 pounds, and Product B produces 40,000 pounds. The amount of joint costs allocated to Product B using the physical quantities method is $

Answers

The joint costs allocated to Product B is $240,000.

What is amount of joint costs allocated to Product B?

We must allocate joint costs based on the relative physical quantities produced by each product.

The total physical quantity produced by both products is:

= Quantity of A + Quantity of B

= 10,000 + 40,000

= 50,000 pounds

We will calculate the proportion of physical quantity produced by product A:

= Quantity of B / Total physical quantity

= 40,000 / 50,000

= 0.8

The amount of joint costs allocated to Product B is will be

= Total joint costs x Proportion of

= $300,000 x 0.8

= $240,000.

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I WILL GIVE YOU 5 STARS AND BRAINERLEST ANDCA LIKE IF U ANSWER THIS

2. The Johnsons are planning a family reunion for 21 people. Each family is made up of
three people. Use a model or numbers to solve the equation 3x = 21. How many families
will attend the reunion?
Show your work

Answers

Answer: x=7

Step-by-step explanation:

3x=21

21 divided by 3 is 7

so x equals 7

Answer:

7 families

|||+|||+|||+|||+|||+|||+||| = 21

  7 families of 3 = 21

Step-by-step explanation:

3x=21

x=7 families

Label the triangle sides, assuming the angle of interest is the 30-degree angle:

solve for
The side with x is the
blank side.
The side with y is the



NO SPAM I WILL REPORT YOU
blank side.
The side with 17 is the blank side

Label the triangle sides, assuming the angle of interest is the 30-degree angle:solve forThe side with

Answers

Check the picture below.

Label the triangle sides, assuming the angle of interest is the 30-degree angle:solve forThe side with

The amount of detergent dispensed into bottles of liquid laundry detergent bottles for a particular brand is normally distributed with a mean of 87.9 ounces with a standard deviation of 1.3 ounces. If twenty-four bottles are randomly chosen from the factory, what is the probability that the mean fill is more than 88.2 ounces?

Answers

The probability that the mean fill is more than 84.8 ounces is 0.39358

From the question, the given parameters about the normal distribution are

Mean value of the set of data = 88.2

Standard deviation value of the set of data = 1.3

The actual data value = 88.2

The z-score of the data value is calculated using the following formula

z = (x - mean value)/standard deviation

Substitute the given parameters in the above equation

z = (88.2 - 87.9)/1.3

Evaluate the difference of 88.2 and 87.9

z = 0.3/1.3

Evaluate the quotient of 0.3 and 1.1

z = 0.23

The probability that the mean fill is more than 88.2 ounces is then calculated as:

P(x > 88.2) = P(z > 0.23)

From the z table of probabilities, we have;

P(x > 88.2) = 0.5910

Hence, the probability that the mean fill is more than 84.8 ounces is 0.5910

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What are two pairs of opposite sides that are parallel and congruent?

Answers

Parallelogram have two pairs of opposite sides that are parallel and congruent.

In a parallelogram, two pairs of opposite sides are parallel and congruent. A parallelogram is a quadrilateral with opposite sides that are parallel and congruent. Therefore, any pair of opposite sides in a parallelogram satisfies the criteria of being both parallel and congruent.

For example, let's consider a parallelogram ABCD:

Side AB is parallel and congruent to side CD.Side AD is parallel and congruent to side BC.

These two pairs of opposite sides, AB and CD, and AD and BC, are parallel (they never intersect) and congruent (they have the same length).

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Twice the difference of 9 and a number.

Answers

Answer:

its something like 9-n x 2

Step-by-step explanation:

9 - n x 2

Answer: 2(x-9)

Step-by-step explanation:

trust me ;)

8/3 * (-2 1/2) the product is

Answers

Answer:

-28

Step-by-step explanation:

You have to do the parenthesis 1st, then the \(\frac{8}{3}\), and multiply the result :D

What is the sum of 4 of the interior angles of a regular octagon?

Answers

Answer:

540°

Step-by-step explanation:

inter angle vertex = 135°

135 + 135 + 135 + 135 = 540°

The hypotenuse of a right triangle has length 15 and one leg has length 5. The length of the other leg is

Answers

Answer:

15.81

Step-by-step explanation:

c=a^2+b^2=5^2+15^2≈ 15.81139

The figure is cut into 15 equal pieces. Shade 2/5 of the figure

Answers

Answer: Shade 6 pieces

Step-by-step explanation:

Because 2/5 of 15 is 6

A punch recipe requires 2 cups of cranberry juice to make 4 gallons of punch. Using the same recipe, what is the amount of cranberry juice needed for 12 gallon of punch

Answers

Answer:

we need 6 cups of cranberry juice for 12 gallons of punch

A punch recipe requires 2 cups of cranberry juice to make 4 gallons of punch. Using the same recipe,

Sita started to walk from her office to home. She first walked a distance of 1 km towards North and after finishing her shopping she walked for another 4 km towards West to meet her friend. From there she took a left turn and walked for another 4 km to reach her home. What is the shortest distance between her office and home?

Answers

Answer:

5km

Step-by-step explanation:

A - her office

E - her home

AB = 1km; BC = CE = 4km

AE - the shortest disctance between her office and home.

ADE - right triangle, where AD = 4km, ED = 3 (EC - CD) =>

According to the Pythagorean theorem , we make up the equation:

AE = √ED^2 + AD^2 = √25 = 5km

Sita started to walk from her office to home. She first walked a distance of 1 km towards North and after

3x^3-2x^2+7x+9 divided by x^2-3x

Answers

The quotient is 3x + 7, and the remainder is (28x + 9) / (x^2 - 3x).

What is Division?

A division is a process of splitting a specific amount into equal parts.

We have to find 3x³-2x²+7x+9 divided by x²-3x

3x³-2x²+7x+9 is the dividend and x²-3x is the divisor.

The steps to solve this are given below.

Step 1: Take the first digit of the dividend from the left. Check if this digit is greater than or equal to the divisor.

Step 2: Then divide it by the divisor and write the answer on top as the quotient.

Step 3: Subtract the result from the digit and write the difference below.

Step 4: Bring down the next digit of the dividend (if present).

Step 5: Repeat the same process.

Hence, the quotient is 3x + 7, and the remainder is (28x + 9) / (x^2 - 3x).

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3x^3-2x^2+7x+9 divided by x^2-3x

What does AB congruent symbol CD mean? AB and CD here have lines over them How is it different than AB=CD?

Answers

Answer:

Suppose that we have two line segments, AB and CD. We know that they have the same length.

I know that AB¯¯¯¯¯¯¯¯=CD¯¯¯¯¯¯¯¯ means AB is identical to CD (aka. They are the same lines), and also that AB¯¯¯¯¯¯¯¯≅CD¯¯¯¯¯¯¯¯ means that AB and CD have the same size, but what does AB=CD mean?

Step-by-step explanation:

Which letter corresponds to the base?
Which letter corresponds to the slant height?
Which letter corresponds to the height?

Answers

Answer:

letter corresponds to the base=b

letter corresponds to the slant height=s

letter corresponds to the height=,h

Convert the following into scientific notation:
70.2 = _____ x 10 ____

Convert the following into scientific notation:70.2 = _____ x 10 ____

Answers

Answer:

7.02 x 10^1

Step-by-step explanation:

Answer:

7.02 * 10^1

Step-by-step explanation:

Your softball team played 20 games during the season. The following is a list of the teams wins (W) and losses (L)

Answers

The relative frequency of the wins for the softball team for the season is 60 %.

How to find the relative frequency ?

The ratio of the total number of events occurring in a scenario to the number of times an event occurs is known as relative frequency.

The relative frequency for the wins to the softball team is therefore :

= Number of games won / Number of games played

= 12 / 20

= 0. 60

= 60 %

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The full question is:

Your softball team played 20 games during the season.

The following is a list of the team’s wins (W) and losses (L).

W, W, L, L, L, W, L, L, W, W, W, L, W, W, L, L, W, W, W, W

What is the relative frequency of the wins? Show your calculation.

Help help needed for composition of function

Help help needed for composition of function

Answers

Answer:

\(\circledast \ \ f\circ f\left( x\right) = x\)

\(\circledast \ \ g\circ g\left( x\right) =4x - 21\)

Step-by-step explanation:

\(f(x)=\frac{5}{2x}\)

g(x) = 2x - 7

==============

\(f\circ f\left( x\right) =\frac{5}{2\left( f\left( x\right) \right) }\)

             \(=\frac{5}{2\left( \frac{5}{2x} \right) }\)

             \(=\frac{5}{\left( \frac{5}{x} \right) }\)

             \(=5\times\frac{x}{5}\)

             \(=x\)

_____________

\(g\circ g\left( x\right) =2(g(x)) - 7\)

            = 2(2x - 7) - 7

           = 4x - 14 - 7

           = 4x - 23

I will give brainliest if you answer correctly.

I will give brainliest if you answer correctly.

Answers

Answer:

M and N are similar but not congruent

Step-by-step explanation:

M is width 1 length 2

N is width 2 length 4

1x2=2

2x2=4

the other options don't make sense so it's the fourth one.

Sophia wants a video game. The one she wants costs $38. Sophia has saved $43 toward the video game. How much can Sophia spend and still afford the video game?

Answers

Answer:

She can spend $38 and have $5 left.

Step-by-step explanation:

$43 - $38 = $5. Therefore, she can afford the video game and have $5 left.

Answer:

$5

Step-by-step explanation:

Subtract 48 by 38

48 -  38

You are doing this because after you subtract the game cost from what she has at the moment she will have $5 so she can spend $5 and still get the video game.

Write the equation in slope-intercept form

Write the equation in slope-intercept form

Answers

Answer:

General equation of a line:

\(y = mx + b\)

m » gradient

b » y-intercept

• considering point (-6, 12):

\(12 = ( - \frac{5}{12} \times - 6) + b \\ \\ 12 = \frac{5}{2} + b \\ \\ b = \frac{19}{2} \)

• equation:

\(2y = - \frac{5}{6} x + {19} \\ \)

A bag contains nine balls labeled 1 through 9. One ball will be randomly picked. What is the probability of picking a multiple of 3?

Answers

Answer: 3/9 or 1/3

Step-by-step explanation:

3, 6 and 9 are all multiples of 3 equal or below 9.

He completed 2 and 4/5 rows of grapes each hour he worked after completing 140 rows of grapes how many hours had he worked?

Answers

Step-by-step explanation:

Divide 140 by \(2\frac{4}{5}\) to represent the amount of hours he worked.

To make dividing easier, \(2\frac{4}{5}\) can also represent 2.8 as a decimal.

\(\frac{140}{2.8} =50\)

He has worked 50 hours after completing 140 rows of grapes.

Tyler's brother earns $14 per hour. The store offers him a 5% increase in wages per hour. After the raise, how much will tyler's brother make per hour?

Answers

After the raise, Tyler's brother will make $14 x 1.05 = $14.70 per hour.

Answer:

14 x 1.05 = 14.70

Step-by-step explanation:

Each triangle in the quilting square pattern shows has a base and height of 2 inches how much fabric is needed to create one quilting square

Answers

Answer:

The amount of fabric needed to create one quilting square is 8 inches.

Answer:

The amount of fabric needed to create one quilting square is 8 inches.

Step-by-step explanation:

About 5/7 of the earths surface is covered with water. About 88957440 km squared is land. How much in km squared of the earths surface is covered in water?

About 5/7 of the earths surface is covered with water. About 88957440 km squared is land. How much in

Answers

Answer:

71 percent

Step-by-step explanation:

About 71 percent of the Earth's surface is water-covered, and the oceans hold about 96.5 percent of all Earth's water. Water also exists in the air as water vapor, in rivers and lakes, in icecaps and glaciers, in the ground as soil moisture and in aquifers, and even in you and your dog. Water is never sitting still.

The area of the earth's surface covered in water will be 63541028.57 square kilometres.

What is an expression?

Expression in maths is defined as the relation of numbers variables and functions by using mathematical signs like addition, subtraction, multiplication and division.

In mathematics, expression is defined as the relationship of numbers, variables, and functions using mathematical signs such as addition, subtraction, multiplication, and division.

Given that about 5/7 of the earth's surface is covered with water. About 88957440 km squared is land.

The area covered with water will be calculated as,

Area = ( 5 / 7 )  x 88957440

Area = 63541028.57 square kilometres.

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Janisa researched fast-growing industries and occupations, while Rylan researched industries and occupations that have the highest employment. Which most likely describes Janisa and Rylan’s findings? Janisa found that home health care is the fastest growing occupation and services for the elderly is the fastest growing industry, while Rylan found that elementary and secondary school teaching are the occupations with the highest employment and retail sales is the industry with the highest employment. Janisa found that services for the elderly is the fastest growing occupation and home health care is the fastest growing industry, while Rylan found that retail sales is the occupation with the highest employment and elementary and secondary school teaching is the industry with the highest employment. Janisa found that home health care is the fastest growing occupation and services for the elderly is the fastest growing industry, while Rylan found that retail sales is the occupation with

Answers

Answer:

Janisa found that home health care is the fastest-growing occupation and services for the elderly is the fastest growing industry, while Rylan found that elementary and secondary school teaching are the occupations with the highest employment and retail sales is the industry with the highest employment.

Explanation:

We make this conclusion because when we look at all the other options none matches the definition of occupations and industries. However, if Janisa found that home health care is the fastest-growing occupation, and then services for the elderly are the fastest growing industry, it matches what we know an industry and occupation mean.

While, if Rylan found that elementary and secondary school teaching are the occupations with the highest employment, it matches an example of occupation also, and if he discovers that retail sales is the industry with the highest employment it also falls under industry types.

However, the other options mismatched industry examples for occupations.

Answer:I think the answer is C the third option

Step-by-step explanation:

Find the derivative of the function.
F(x) =
x2 et4dt
x
F' (x)= ?

Answers

The derivative of the function F(x) =x2 et4dt is e−x4(2x)−e−x2.

The derivative of a function of a real variable in mathematics quantifies the sensitivity of the function's value (output value) to changes in its argument (input value). Calculus's core tool is the derivative.

Take the derivative to differentiate anything.

Finding the slope at any point is the same as taking the derivative of a function, so differentiating is just finding the slope.

You may be aware that is typically indicated by either

I'm assuming you mean to determine the derivative of F(x)

F(x)=∫x2xe−t2dt

Let G(x)=∫x0e−t2dt

According to the calculus fundamental theorem

F′(x)=ddx(G(x2)−G(x))

=G′(x2)(2x)−G′(x)

=e−x4(2x)−e−x2.

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