Use the following statement to answer parts ​a) and​ b). One hundred raffle tickets are sold for​ $3 each. One prize of ​$500 is to be awarded. Winners do not have their ticket costs of​ $3 refunded to them. Raul purchases one ticket.
​a) Determine his expected value.
​b) Determine the fair price of a ticket.

Answers

Answer 1

Using the expected value of a discrete distribution, it is found that:

a) His expected value is of -$2.5.

b) The fair price of a ticket is of $0.5.

What is the mean of a discrete distribution?

The expected value of a discrete distribution is given by the sum of each outcome multiplied by it's respective probability.

In this problem, the distribution for the net value of the ticket is:

P(X = 497) = 1/1000.P(X = -3) = 999/1000.

Item a:

The expected value is given by:

[tex]E(X) = 497\frac{1}{1000} - 3\frac{999}{1000} = -2.5[/tex]

His expected value is of -$2.5.

Item b:

With an unknown ticket price, the distribution is:

P(X = 500 - x) = 1/1000.P(X = -x) = 999/1000.

The game is fair if E(X) = 0, hence:

[tex]\frac{500 - x}{1000} - \frac{999x}{1000} = 0[/tex]

0.5 - x = 0

x = 0.

The fair price of a ticket is of $0.5.

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Related Questions

Matt buys 9 cookies, and of them are chocolate chip. How many chocolate chip cookies did he buy? A .3 cookies B. 6 cookies C.8 cookies D. 11 cookies​

Answers

Answer:

B. 6 cookies

Step-by-step explanation:

Given :

9 cookies2/3 of them are chocolate chip

Number of chocolate chip

Total x fraction of chocolate chip9 x 2/33 x 26 cookies

Makayla leans a 26-foot ladder against a wall so that it forms an angle of 69^{\circ} ∘ with the ground. What’s the horizontal distance between the base of the ladder and the wall? Round your answer to the nearest tenth of a foot if necessary.

Answers

The base of the ladder and the wall forms a right triangle

The horizontal distance between the base of the ladder and the wall is 9.3 feet

How to determine the horizontal distance?

The given parametes are:

Angle = 69 degrees

Length of the ladder (l) = 26 feet

The horizontal distance (h) is calculated using the following cosine ratio

cos(θ) = h/l

Substitute known values

cos(69) = h/26

Make h the subject

h = 26 * cos(69)

Evaluate the product

h = 9.3

Hence, the horizontal distance between the base of the ladder and the wall is 9.3 feet

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When do I use the quadratic formula?

Answers

Answer:

Step-by-step explanation:

Quadratic equations are commonly used in situations where two things are multiplied together and they both depend on the same variable. For example, when working with area, if both dimensions are written in terms of the same variable, you use a quadratic equation.

Find the value of 2^-3​

Answers

Answer:

Exact form would be 1/8

and the decimal form is 0.125

Answer:

2^-3=1/8=0.125

Step-by-step explanation:

We have a negative exponent (-3) in order to make an exponent positive write the reciprocal of the number

We get 2^-3 = 1/(2^3)

and 2^3=8

so we get 2^-3= 1/8 =0.125

Find the product of 0.000879 and 1.028

Answers

Answer:

0.008791747

Step-by-step explanation:  

0.000879  

x       1.028

-------------------

         0167

       01580

   000000

08790000

---------------------

  8791747

0.000879 and 1.028 have NINE decimal places total, so add NINE decimal places from the LEFT to the above answer.

Final answer: 0.008791747

I hope this helps!

 A soccer coach is passing out water bottles to the team after practice. The water comes in 12-ounce bottles. If the soccer coach hands out 1,152 ounces of water to 32 players, how many bottles will each player get?

Answers

Answer:

Step-by-step explanation:

N 32 players

Q1. 12 onces bottles

Q2. 1.152 onces water

N bottle?

1.152/12= 96 (number of bottles)

96/32=3 (number por player)

Lauren's scores on her math tests were 96, 95, 98, 92, 94, 93, and 97. What score could Lauren get on her next math test so that the mean and median remain the same? Complete the explanation. The score on her next test that would keep her mean and median the same would be Because her mean and median are already another score of this value would not alter the mean or the median.​

Answers

Answer:

Lauren needs to get 95  on her next math test so that the mean and median remain the same

Step-by-step explanation:

92+93+ 94+ 95+96+97+98  = 665

665/2 =95

mean=95

median=95

x=  score could Lauren get on her next math

(665+ x)/8 =95

multiply both sides by 8 to eliminate fraction

665 +x = 760

x=95

So now the median is the same

(95+95)/2=95

      shorcut:

with 7 scores 95 is the median(in the middle)

with 8 scores ,we need a number that added to 95 and divided by 2 is still 95  That number is 95


HURRY PLS WILL MARK BRAINLIEST, Find an equation in slope intercept form of the line that has two slope and passes through points A [9, -2 ]

Answers

Answer:

D

Step-by-step explanation:

sub in the x value and if its equal to -2 its on that line

helpppp: Find the area of the parallelogram.

Answers

Step-by-step explanation:

that is totally simple.

the area of a parallelogram is

baseline × height

basically the same as for a rectangle, just that in this more general form the height is no longer the other side.

in our case here

18×13 = 234 cm²

Which expression is equivalent?

Answers

Answer:

The Third one.

Step-by-step explanation:

So, Turn the mixed number, 2 1/4, to an improper fraction, 9/4. Then match the answer!

If you need anything else, just message me!

Have a nice day! :)

Fiona has $18 to spend. She spent $4.25, including tax, to buy a notebook. She needs to save $9.75, but she wants to buy a snack. If crackers cost $0.50 per package including tax, what inequality would show the maximum number of packages that Fiona can buy? Solve your inequality by showing your work and steps.

I think the answer is 8 but I don't know how to make an inequality. Please help.

Answers

Answer:

8 packages

Step-by-step explanation:

First, let's subtract.

#1) Remove the cost of the notebook.

$18 - $4.25$13.75

#2) Remove the amount that needs to be saved.

$13.75 - $9.75$4.00

#3) Make the inequality.

Let n be the number of packages.0.50n ≤ 4.00n ≤ 4.00/0.50n ≤ 8

The expression c + 0.07c can be used to find the total cost of an item with 7% sales tax, where c is the cost of the item. Use the expression to find the total cost of an item that is $25.

Answers

The total cost of the item at the value of $25 and a tax of 7% is $26.75

Total Cost

Given Data

Tax = 7%Cost of item c = $25

We have the given expression to find the total cost which is

Total = c + 0.07c

Substituting our given data into the expression we have

Total = 25 + 0.07*25

Total = 25 + 1.75

Total = $26.75

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A bank pays $15 in interest for every $100 deposited.
The bank pays how much interest?

Answers

Answer:

15% interest

Step-by-step explanation:

because it's 15 out of 100 so that would be 15%

mohsin purchased a 30 ounce bag of dried Turkish figs for $11.40. What is the cost per pound?

Answers

Answer:

$6.08 per pound

Explanation:

30 ounce ⇒ $11.40

conversions:

16 ounce ⇔ 1 pound1 ounce ⇔ 0.0625 pound

solve:

0.0625(30) pound ⇒ $11.401.875 pound ⇒ $11.401 pound ⇒ $6.08

Answer:

$6.08

Step-by-step explanation:

Mohsin purchased a 30-ounce bag of dried Turkish figs for $11.40.

⇒ 30 ounces of dried Turkish figs = $11.40

Finding the cost per ounces:

30 ounces of dried Turkish figs/30 = $11.40

⇒ 30 ounces of dried Turkish figs/30 = $11.40/30

⇒ 1 ounce of dried Turkish figs = $0.38

Finding the cost per pounds:

1 pound ↔ 16 ounces

⇒ 1 ounce of dried Turkish figs = $0.38

⇒ 1 ounce of dried Turkish figs × 16 = $0.38 × 16

16 ounces of dried Turkish figs = $6.08

A question to upload the GeoGebra downloaded file : Graph the quadratic function of your choice and find the vertex and axis of symmetry .​

Answers

Answer:I drew a quadratic function with a vertex and axis of symmetry, hope this helps

Brainlisted for the correct answer! Need help due today!

Answers

Answer:

a. 21.95 or abt 22

b. Length of the ladder

Step-by-step explanation:

pythagorean theorem - a^2 + b^2 = c^2

[c is slope/hypoteneuse] [a and b are sides]

11^2 + 19^2 = c^2

121 + 361 = c^2

482 = c^2

sqrt(482) = c

c = 21.954 or abt 22

At age 25, Sam deposited $4,000 into an IRA account where it earns 9.8% interest, compounded monthly. What will it be worth when Sam is 33?

Answers

The amount $4,000 deposited by Sam into an IRA account where it earns 9.8% interest, compounded monthly, will be $12903.8  when Sam is 33.

What is compound interest?

Compound interest is the amount charged on the principal amount and the accumulated interest with a fixed rate of interest for a time period.

The formula for the final amount with the compound interest formula can be given as,

[tex]A=P\times\left(1+\dfrac{r}{n\times100}\right)^{nt}\\[/tex]

Here, A is the final amount (principal plus interest amount) on the principal amount P of with the rate r of in the time period of t.

At age 25, Sam deposited $4,000 into an IRA account where it earns 9.8% interest, compounded monthly. Thus,

[tex]P=4000\\r=9.8\%[/tex]

Now the worth has to be found out when Sam is 33. Thus, the total time period in year is,

[tex]t=33-25\\t=12\rm\; years[/tex]

Put the values in the formula,

[tex]A=4000\times\left(1+\dfrac{9.8}{12\times100}\right)^{12\times12}\\A\approx12903.8[/tex]

Thus, the amount $4,000 deposited by Sam into an IRA account where it earns 9.8% interest, compounded monthly, will be $12903.8  when Sam is 33.

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#SPJ1

Answer: $8733.01

Step-by-step explanation: I got it right on my quiz

The volume of a cylinder is 48n cubic feet. The
area of the base is 121 square feet.
What is the height of the cylinder?

Answers

Answer:

1.25 feet to the nearest hundredth.

Step-by-step explanation:

Voilume = π r^2 h

Here V = 48π , and area of the base = π r^2 = 121.

So  48π = 121h

h =  48π / 121

= 1.25 feet to the nearest hundredth.

You need a 40\% alcohol solution. On hand, you have a 150 mL of a 20% alcohol mixture. You also have 55% alcohol mixture. How much of the 55% mixture will you need to add to obtain the desired solution?

Answers

Answer:

You need to add 200 mL of the 55%   to obtain the desired solution

Step-by-step explanation:

x=mixture you need to add

20% * 150 + 55% x = 40%(x + 150)

0.20 * 150 + 0.55x = 0.40(x + 150)

30+0.55x=60+0.40x

0.15x = 30

x=200 mL

Tom has 267 marbles, He shares the marbles out between himself and his two friends How many marbles does
each get? How many left over ?​

Answers

Answer:

Each get 89 marbles and the leftovers are 0

Step-by-step explanation:

We have to ditribute the 267 marbles for 3 people so divide 267 by 3:

[tex]\frac{267}{3}[/tex] = 89

So each one gets 89

The leftovers are 0 because 267 is divisible by 3, means that if we divide 267 by 3 we will get a natural number ( no decimal part/ remainder=0)

remainder=0 → leftovers=0

PLEASE HELP ILL GIVE THANKS, 5.0, AND BRAINLIEST TO WHOEVER ANSWERS CORRECTLY PLEASE HELP AND ILL GIVE A HIGH POINT COUNT
Sophie bikes at a speed of s miles per hour. Her friend Rana is slower, her biking
speed is only r miles per hour.
Tomorrow both girls are planning to spend 3 hours biking. How much longer will be
Sophie's route?

Answers

Answer:

FOR THIS PROBLEM I GOT..... (20/r)-(20/s)

Step-by-step explanation:

pls brainlest mee


Reason Does the division 25/6 have a remainder?
How do you know?


Answers

Answer:

Yes

Step-by-step explanation:

If you divide 26 by six, you get s decimal smaller than 5. Remember, 5*5=25. 6*5=30, so that doesn't work. 6*4=24, so that does. Then you get four with a remainder of one.

Allison is making fruit drinks for her friends.
Each fruit drink is made with 3/5 cup of
strawberries and 1/5 cup of blueberries. If
Allison is making fruit drinks for 6 friends,
how many cups of fruit will she need??

Answers

The number of cups of fruit Allison will need is = 4 ⅘ cups of fruits

Calculation of total quantity of fruits

The quantity of strawberries needed for each fruit drink= 3/5 cup

The quantity of blueberries needed for each fruit drink = 1/5 cup

Therefore the total quantity of fruits needed for each drink = 3/5 + 1/5

= 4/5

If 4/5 = 1 fruit drink

X = 6 fruit drinks

Make X the subject of formula,

X = 4/5 × 6

X = 24/5

X= 4 ⅘

Therefore, the number of cups of fruit Allison will need is = 4 ⅘ cups of fruits

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Odds in favor of drawing a face card

Answers

Answer:

y blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah

12 face cards

->12/52

=3/13

Carlos took 1/4 hours to clean the kitchen. Then he took 5 3/8 hours to clean the den. How much time did Carlos take to clean the two rooms?

Answers

Answer:

5 [tex]\frac{5}{8}[/tex]

Step-by-step explanation:

[tex]\frac{1}{4} = \frac{2}{8}[/tex]

[tex]\frac{2}{8} + 5\frac{3}{8}[/tex]

Your solution is:

5 [tex]\frac{5}{8}[/tex]

5 and 5/8 1/4=2/8 so, 2/8 + 3/8 = 5/8

mrs. vickers is covering her students work table with chalkboard paper. the table is a radius of 3.8 ft. How much paper will she need?

Answers

Answer:

How might the situation lead to bullying?

How might the situation lead to bullying?

How might the situation lead to bullying?

How might the situation lead to bullying?

Step-by-step explanation:

Explain how stroke is caused by substance abuse

Answers

Answer:

Cocaine, methamphetamines, and other stimulants can cause stroke in two ways. To begin with, stimulant drugs increase blood pressure. These drugs also have a direct effect on the vessel walls, and the extra pressure can cause them to rupture and leak blood into the brain. This is known as a hemorrhagic stroke.

Step-by-step explanation:

[tex]\frac{-65}{100} - \frac{12}{7}[/tex]

Answers

Hope it helps best of luckkkkk….

Answer:

-331/140

Step-by-step explanation:

Write an equation of the line in slope-intercept form.
y =

Answers

Answer:

y=1/4x+3

Step-by-step explanation:

You can find the slope by starting at the point (4,2), then using "rise over run" you can count up(rise) 1, then side(run) 4. So the slope, or "m" would be 1/4x. The B value is the y Intercept, and the y Intercept is (0,3) so you would write it as 3 in the equation.

For each pair figures, find the ratio of the area of the first figure to the area of the second. 14mm 7mm

Answers

The ratio of the area of the first figure to the area of the second figure is 4:1

Ratio of the areas of similar figures

From the question, we are to determine the ratio of the area of the first figure to the area of the second figure

The two figures are similar

From one of the theorems for similar polygons, we have that

If the scale factor of the sides of two similar polygons is m/n then the ratio of the areas is (m/n)²

Let the base length of the first figure be ,m = 14 mm

and the base length of the second figure be, n = 7 mm

∴ The ratio of their areas will be

[tex](\frac{14 \ mm}{7 \ mm})^{2}[/tex]

[tex]= \frac{196 \ mm^{2} }{49\ mm^{2} }[/tex]

[tex]=\frac{4}{1}[/tex]

= 4:1

Hence, the ratio of the area of the first figure to the area of the second figure is 4:1

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The cost sheets for the four jobs entering production during the month are as follows, in summary form:Job 301 Job 302Direct materials $28,340 Direct materials $13,250Direct labor 10,900 Direct labor 5,600Factory overhead 5,995 Factory overhead 3,080Total $45,235 Total $21,930Job 303 Job 304Direct materials $40,370 Direct materials $8,160Direct labor 12,000 Direct labor 1,600Factory overhead Factory overhead Journalize the summary entry to record each of the following operations for January (one entry for each operation):Question Content Areaa. Direct and indirect materials used. If an amount box does not require an entry, leave it blank.Work in ProcessWork in ProcessFactory OverheadFactory OverheadMaterialsMaterialsFeedback AreaFeedbacka. Record direct materials costs in the work in process account, and indirect materials costs in the factory overhead account.Question Content Areab. Direct and indirect labor used. 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