Posted by **Rushell** on Friday, November 20, 2009 at 10:05pm.

Debra is buying prizes for a game at her school's fundraiser. The game has three levels of prizes, and she has already bought the second and third prizes. She wants the first prize to be nice enough to attract people to the game. The game's manufacturer has supplied her with the probabilities of winning first, second, and third prizes. Tickets cost $3 each, and she wants the school to profit an average of $1 per ticket. How much should she spend on each first prize? (Give your answer to the nearest cent.)

Prize Cost of Prize Probability

1st $ 0.15

2nd $1.28 0.30

3rd $0.70 0.45

- Math 101 -
**Reiny**, Friday, November 20, 2009 at 10:58pm
.15x + .3(1.28) + .45(.70) + 1 = 3

I got x = 8.67

Check:

expected value (what you have to pay out)

= .15(8.67) + .3(1.28) + .45(.7) = 1.995

or $2.00, but each ticket costs $3, so they make $1 per ticket

## Answer This Question

## Related Questions

- Math 101 - Debra is buying prizes for a game at her school's fundraiser. The ...
- Math - Debra is buying prizes for a game at her school's fundraiser. The game ...
- Math 142 - 800 hundred chances are sold at $2 apiece for a raffle. There is a ...
- math - Stewart is playing a video game. He earns the same number of points for ...
- math - Alottery has 100 tickerts which are placed in a barrel . Three tickets ...
- math - A raffle has a $500 first prize, two $100 second prizes and five $25 ...
- Math - At the Statsville County Fair, the probability of winning a prize in the...
- Math - it cost $2 to buy a raffle ticket. if there are 500 tickets sold, and ...
- Math - In a local dog show, there are prizes for first, second, and third place...
- Probability - A raffle offers a first prize of $1000, 2 second prizes of...

More Related Questions