statistics

posted by .

A lottery offers one $10000 prize, one $5000 prize and five $1000 prizes. 1000 tickets are sold at $30 each . Find the expectation if a person buys one ticket

workings:
9970/1000+4970/1000+4850/1000-29790/1000
= -10000/1000 =-$10

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Calc Help

    demand = (p+1)sqroot(q+1)=1000. Find elasticity of demand at a price of $39 per unit. I am really struggling with this problem is there anyone that can help me?
  2. Math

    Find the amount of money in the account at the end. $1000.00, 4 years, 7% compounded semi-annually A=P(1+r/n)^nt r=0.07, t=4, P=$1000.00, n=2 A=P(1+r/n)^nt A=$1000.00(1+0.07/2)^2-4 A=$1000(1.035)^8 A=$1000(1.316809037) A=$1,316.809037 …
  3. Data Management

    A lottery has one $1000000 prize, two $50000 prizes, ten $1000 prizes, and two hundred $50 prizes. There are to be one milllion tickets sold. How much pofit does the lotto company make if they sell the tickets for $2.00 each?
  4. statistics

    A lottery offers one $900 prize, one $600 prize, three $400 prizes, and five $100 prizes. One thousand tickets are sold at $6 each. Find the expectation of a person buys five tickets.
  5. statistics

    A lottery offers one $800 prize, one $400 prize, and ten $80 prizes. One thousand tickets are sold at $3 each. Find the expectation if a person buts two tickets. Assume that each ticket can win more than one prize.
  6. Math

    one Percentage increase / decrease formula in excel that full all the conditions that are mentioned below 2012 2011 1 0 0 2 0 500 3 500 0 4 500 1000 5 1000 500 6 500 (1000) 7 (1000) 500 8 (500) (1000) 9 (1000) (500) Dear its urgent
  7. Math

    one Percentage increase / decrease formula in excel that full all the conditions that are mentioned below 2012 2011 1 0 0 2 0 500 3 500 0 4 500 1000 5 1000 500 6 500 (1000) 7 (1000) 500 8 (500) (1000) 9 (1000) (500) Dear its urgent
  8. Statistics

    There is a $2 raffle with a first prize of $10000, a second prize of $500, and a 3rd prize of $100. If 1000 tickets are sold find the expected value. How much should the raffle ticket cost to make this a fair game?
  9. stats

    At 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.
  10. algebra (check answer)

    The diameter of a valve for the space shuttle must be within 0.001 mm of 5 mm. Write and solve an absolute-value equation to find the boundary values for the acceptable diameters of the valve. | d - 5.000| = 0.001 d - 5 = 0.001 d * …

More Similar Questions