WebFifty people purchase raffle tickets. Three winners are selected random. If the first prize is $1,000, the second prize is $500, and the third is $100, in how many ways can the prizes be awarded? -----Pick 3 people: 50C3 ways---Award the prizes: 3! = 6 ways---- Total # of ways (50C3)*6 = 19600*6 = 117600 ways
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Get a quoteWebThere are 20 prizes of $25, 5 prizes of $100, and 1 grand prize of $2000. Suppose you buy one ticket. Let the random variable X represent your net gain (remember that the net gain should include the cost of the ticket) after playing the game once. Use the table below to help you construct a At a raffle, 1000 tickets are sold at $5 each.
Get a quoteWebThere are 20 prizes of $25, 5 prizes of $100, and 1 grand prize of $2000. Suppose you buy one ticket. Let the random variable X represent your net gain (remember that the net gain should include the cost of the ticket) after playing the game once. Use the table below to help you construct a At a raffle, 1000 tickets are sold at $5 each.
Get a quoteWebA charity is holding a raffle to raise money. There is one car worth $30,000 and five $100 gift cards being raffled off. Each ticket costs $20, and there are a total of 5,000 tickets being sold. Which equation correctly depicts the calculation of the expected value for a ticket? b
Get a quoteWebAnswer (1 of 2): Assuming that one ticket corresponds to each prize(i.e. you can only get $500 from one ticket, and same with the other prizes), then P(text{winning }$75)=P(text{winning }$150)=P(text{winning }$250)=P(text{winning }$500)=frac{1}{1500}. Thus, the expected gain for one tick
Get a quoteWebA charity is selling raffle tickets at $5 apiece. Out of the 100 tickets sold, ten third-place winners will be drawn, each winning $20. Five second-place winners will be drawn, each winning $50. Lastly, one grand prize of $100 will be awarded. Is a raffle with these rules a good idea for the charity? Why or why not? A.
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Get a quoteWebSOLUTION: One thousand raffle tickets are sold for $2.00 each. One grand prize of $500 and two consolation prizes of $100 each will be awarded. Jeremy purchases one ticket. Find his expected SOLUTION: One thousand raffle tickets are sold for $2.00 each. One grand prize of $500 and two consolation prizes of $100 each will be awarded.
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Get a quoteWebFifty people purchase raffle tickets. Three winners are selected random. If the first prize is $1,000, the second prize is $500, and the third is $100, in how many ways can the prizes be awarded? -----Pick 3 people: 50C3 ways---Award the prizes: 3! = 6 ways---- Total # of ways (50C3)*6 = 19600*6 = 117600 ways
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Get a quoteWebAt a raffle, 1000 tickets are sold at $5 each. There are 20 prizes of $25, 5 prizes of $100, and 1 grand prize of $2000. Suppose you buy one ticket. Let the random variableXrepresent your net gain (remember that the net gain should include the cost of the ticket) after playing the game once. 1.
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Get a quoteWebA charity is holding a raffle to raise money. There is one car worth $30,000 and five $100 gift cards being raffled off. Each ticket costs $20, and there are a total of 5,000 tickets being sold. Which equation correctly depicts the calculation of the expected value for a ticket?
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Get a quoteWebhis net value is $800 - $5 = $775 dollars. if he wins one of the second prizes then he will receive 100 dollars. his net value is $100 - $5 = $95 dollars. this can happen 2 times. if he doesn't win anything, then his net value is -$5.00 the probability that he will win first prize is …
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