points Notes Ask Yo The college student senate is sponsoring a spring break Cari

Question

points Notes Ask Yo The college student senate is sponsoring a spring break Caribbean cruise raffle. The proceeds are to be donated to the Samaritan Center for the Homeless. A local travel agency donated the cruise, valued at $2000. The students sold 2612 raffle tickets at $5 per ticket (a) Kevin bought thirty-four tickets. What is the probability that Kevin will win the spring break cruise to the Caribbean? (Round your answer to five decimal places.) What is the probability that Kevin will not win the cruise? (Round your answer to five decimal places.) (b) Expected earnings can be found by multiphying the vaiue of the cruise by the probability that Kevin will nin. What are Kevin's expected carnings? (Round your anawer to two decdimal places.) Is this more or less than the amount Kevin paid for the thirty-four tickets? How much did Kevin effectively contriute to the Samaritan Center for the Homeless? (Round your answer to t Need Help? LReae n

Explanation / Answer

P(Kevin winning the cruise) = 34/2612 = 0.0130

P(Kevin will not win the cruise) = 1 - 0.0130 = 0.9870

Kevin's expected earning = 2000x0.0130 = $26

Amount paid by Kevin = 34x5 = $170

So, the expected earning is LESS than what Kevin had paid for 34 tickets

Effectively, Kevin contributed, 170 - 26 = $144

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