At a fundraiser, 8000 tickets are sold at $10 each for four prizes: a new car worth$30,000, a European vacation worth $9000, a home theater system worth $4000,

and a cash prize of $1000. You buy 1 ticket. What is the expected value of your

gain?

Answers

Answer 1

Answer:

Final answer:

The expected value of buying one ticket in the fundraiser is calculated by multiplying the value of each prize by the probability of winning it and then summing the products. The expected value of a ticket is $5.5, which implies that an average gain or loss from buying a single ticket is $4.5 loss since each ticket cost $10.

Explanation:

The calculation of the expected value is straightforward and it involves multiplying the value of each possible outcome by its probability, and then adding these products together. So, let's start by identifying the outcomes:

Win a new car worth $30000 with a probability of 1 in 8000.
Win a vacation worth $9000 with a probability of 1 in 8000.
Win a home theater system worth $4000 with a probability of 1 in 8000.
Win a cash prize of $1000 with a probability of 1 in 8000.

Now we can calculate the expected amount you would get from buying 1 ticket:

(30000 * 1/8000) + (9000 * 1/8000) + (4000 * 1/8000) + (1000 * 1/8000) = $3.75 + $1.125 + $0.5 + $0.125 = $5.5

So the expected value of purchasing one ticket is $5.5. It's important to remember that this doesn't guarantee that you'll win because the actual result of buying one ticket is subject to chance.

Learn more about Expected Value here:

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Answer 2

Answer:

Answer:

11000

Step-by-step explanation:

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Answers

Answer:

Step-by-step explanation:

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A rectangular prism is 4 units by 2 1/2 units by 1 1/2 units. How many cubes with a side length of 1/2 unit will completely fill the prism ?

Answers

V prism = 4 × (5/2) × (3/2) = 15 units^3;
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Im having problems with this multiplication

Answers

891 for the 1st one, 597 for the 2nd one.

When multiplying hundreds by ones,you have to take it one by one.

For example,on number 5:

199
x 3

1. Multiply 9 by 3,which equals 27.
199
x 3
27

2. Add a zero(to show the next placement) and Multiply 9 by 3,which equals 27.

199
x 3
27
270

3. Add two zeros,and multiply 1 by 3,which equals 3.

199
x 3
27
270
300

4. Now,add it up.

27 + 270 + 300 = 597

Your sum is 597.

What is 1.150 closest to 0,1/2 or 1