Math

ProbabilityQ&A LibraryThe Binomial Probability Distribution and Related TopicsBasic Computation: Expected Value: Part 2/3 Question:For a fundraiser, 1000 raffle tickets are sold and the winner is chosen at random. There is only one prize, $500 in cash. You buy 1 ticket. (b) Your expected earnings can be found by multiplying the value of the prize by the probability you will win the prize. What are your expected earnings?Start your trial now! First week only $4.99!*arrow_forward*

Question

The Binomial Probability Distribution and Related Topics

Basic Computation: Expected Value:

Part 2/3

Question:

For a fundraiser, 1000 raffle tickets are sold and the winner is chosen at random. There is only one prize, $500 in cash. You buy 1 ticket.

(b) Your expected earnings can be found by multiplying the value of the prize by the probability you will win the prize. What are your expected earnings?

Tagged in

Math

Probability

Find answers to questions asked by students like you.

Q: 1. Zip Codes How many 5-digit zip codes are possible if digits can be repeated? If there cannot be r...

A: From given information,Let the sample be –Sample = {0,1,2,3,4,5,6,7,8,9}Five digits code can be foun...

Q: A telephonist claims that he gets 10 calls every five minutes. To demonstrate this to his boss he ma...

A: Given that, Average 10 calls (μ=10)Here, we can use Poisson distribution

Q: . It is estimated that 90% of all 19-year-old men have weights ranging from 117 to 207 lb. Assuming ...

A: Z-score:A z-score is a standard score that represents the number of standard deviation away from the...

Q: in the attached, I only need help with the last three parts. E, G, and H thanks

A: According to the provided data, the square footage is the explanatory variable and selling price is ...

Q: The Chartered Financial Analyst (CFA) institute reported that 51% of its U. S. members indicate that...

A: Note:Hey there! Thank you for the question. As your question contains more than 3 parts, according t...

Q: A fan of country music plans to make a custom CD with 12 of her 25 favorite songs. How many differen...

A: Given dataTotal songs N = 25 No of combinations for size 12 is given by

Q: Given P(A) = 0.47, P(B) = 0.41, and P(A or B) = 0.88, are events A and B mutually exclusive?

A: Mutually exclusive events: The two events A and B are mutually exclusive events, then probability P ...

Q: Evaluate the linear equation, y=4x−7, at the value x=2. y= _____

A: Regression analysis:Regression analysis estimates the relationship among variables. That is, it esti...

Q: If one of these individuals is selected at random, what is the probability that the person watches: ...

A: (1) The probability that the person watches a station other than CBS, given that they are woman is 0...

Q: An experiment consists of flipping a fair coin 3 times and noting heads or tails on each flip. What ...

A: Click to see the answer

Q: how to identify conditional probability

A: In dependent events, the probability of an event will occur given that other events have already occ...

Q: The number of different lunches that Jules can design by selecting one of three meats, one of four s...

A: Types of meat = 3Types of salads = 4Types of vegetables = 6The number of ways of selecting one type ...

Q: Probability of a author writing a good book isi The probability of the author publishing a good book...

A: From the given information,The probability of an author writing a good book is 1/2.The probability o...

Q: A man wishes to purchase a life insurance policy that will pay the beneficiary $25,000 in the event ...

A: It is given that he will live another year is 0.92 and the amount of gain is 25,000.

Q: Refer to the first picture for assitance for the question in the second picture. Thanks in advance!!

A: Given the possible events when first a black dice and second white dice are rolled.The total number ...

Q: USA Today reported that approximately 25% of all state prison inmates released on parole become repe...

A: The probability distribution of X is given below:

Q: 2. Let X be a geometric random variable with parameter (the success probability) p. Let Ak be the ev...

A: It is provided that X be a geometric random variable with parameter (the success probability) p.Thus...

Q: Suppose that the life expectancy of a certain brand of nondefective light bulbs is normally distrib...

A: The probability that at least 1300 hr is,

Q: An urn contains 5 red balls, 4 green balls, and 1 white ball. Three are drawn simultaneously. Answer...

A: As per the questionNo of red balls = 5No of green balls = 4No of white balls = 1

Q: We roll Two dice and report the sum of the spots on the up faces. What is the probability of rollin...

A: From the given information, two dice are rolled. The total sample space is,

Q: Elizabeth brought a box of donuts to share. There are two-dozen (24) donuts in the box, all identi...

A: It is provided that there are two-dozen donuts in the box and all are identical in size, shape, and ...

Q: Bio 10 breaks 10% of slides over the next 3years, 120 classes will be surveyed. what is the probabil...

A: Introduction:The expected value of the sample proportion, for population proportion π is E (p) = π a...

Q: Question is attached, Thanks

A: It is given that the expected value of X of a discrete probability is equal to mean.Thus,

Q: A biomedical research company produces 40%40% of its insulin at a plant in Kansas City, and the rema...

A: Click to see the answer

Q: A 52 card deck contains 13 cards from each of the four suits: clubs, diamonds, hearts and spades. Y...

A: From the given information, there is a deck of 52 cards, there are 13 number of diamonds, 13 number ...

Q: Suppose you roll a die with probability of 1 being 1/13, 2 being 2/13, 3 being 4/13, 4 being 3/13, 5...

A: The given values of up-face of the die and the corresponding probabilities are given in below table.

Q: In a study, researchers wanted to measure the effect of alcohol on the hippocampal region, the porti...

A: It is given that the sample mean is 8.01 and the sample standard deviation is 0.8.The population mea...

Q: Probability Question

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,...

Q: Nine men and six women are to line up for a picture with the nine men in the middle. How many ways c...

A: It is provided that there are nine men and six women who are line-up for a picture with the nine men...

Q: The real question is on the second picture. First one is just for reference. Thanks is advance!!

A: Note:Hey there! Thanks for the question. We have solved the question by assuming that the probabilit...

Q: can donate blood to Mike? (c) What is the probability that a randomiy closen A does not have type B ...

A: The probability that the height of this woman is less than 68 inch or greater than 70 inch is,

Q: Define confidence interval and degree of confidence. Provide at least one example of a confidence in...

A: Confidence interval can be defined as an interval that shows the true population parameter lies with...

Q: Given that n=82 data points are collected when studying the relationship between average daily tempe...

A: It is given that sample size (n) is 82, and r is -0.974.Thus,The degree of freedom (df) is:

Q: 12. The table shows the number of students who took the March Bar Test for the first time and thc nu...

A: Part (a) The total number of the student is 8737. Find the probability that a student failed, given ...

Q: Given the following probability distribution, what is the expected value? Outcome P(Outcome) 4 ...

A: The expected value of a random variable X formula is,

Q: Step 1: License plates in Florida have the form A12BCD, that is, a letter fol lowed by two digits fo...

A: License plates in Florida have the form A12BCD, that is, a letter followed by two digits followed by...

Q: Assume that x has a normal distribution with the specified mean and standard deviation. Find the ind...

A: From the given information, the random variable X follows normal distribution with population mean ...

Q: If someone could please explain step by step how or why this problem works this is a question for a ...

A: A uniform continuous distribution is provided which ranges from -3 to 47.The total width can be obta...

Q: How much money should be invested in an account that earns 3% interest, compounded monthly, in order...

A: From the given data,Interest rate r=3%, time period t=5yeras and P=$15000.

Q: A bet on “black” in Roulette has a probability of 18/38 of winning. If you win, you double your mon...

A: (a) From the given information, the probability of getting one colour (red or black) is 18/38.If you...

Q: The rates of on-time flights for commercial jets are continuously tracked by the U.S. Department of ...

A: The probability that exactly 15 flights arrive late is obtained below:Here, the flights which are ar...

Q: At a certain discount store the number of people in checkout lines varies. the probability model fo...

A: (a) We need to fill in the blank in the table to complete the table as a probability model. ...

Q: A survey consists of asking kids in a particular neighborhood how many houses they visited while tri...

A: Probability:The formula for probability of an event is,

Q: Suppose you buy 1 ticket for $1 out of a lottery of 1,000 tickets where the prize for the one winnin...

A: From the given information,Probability of wining lottery is = 1/1000.Probability of not wining lotte...

Q: Harley-Davidson motorcycles make up 14% of all the motorcycles registered in the United States. You ...

A: It is given that, Harley-Davidson motor cycle make up 14% of the motor cycles registered in US. That...

Q: Convicted by mistake In criminal trials (e.g., murder, robbery, driving while impaired, etc.) in the...

A: Given DataProbability that defendant is convicted, given guilt is 0.95Probability that the defendant...

Q: An oil company estimates that only 1 well in 24 will yield commercial quantities of oil. Assume that...

A: According to the provided data, the number of trials, n is 12. An oil company estimates that only 1 ...

Q: The annual income of residents in a county is $42,000 with a standard deviation of $10,000. Under t...

A: From the given information, the distribution of annual incomes is normally distributed with mean $42...

Q: 4. Suppose X1,... , Xn is a random sample of size n drawn from a Poisson pdf where A is an unknown p...

A: Suppose, a collection of samples X1, X2 ,…, Xn that have been drawn from some fixed probability dist...

Q: A student takes a 20 question true false exam and glasses on each question find the probability of p...

A: Consider a random variable X which, follows binomial distribution, indicates the lowest passing grad...