Section 21203) Homework: HW #52 Score: 0 of 2 pts 8.5.27 Five thousand tickets a

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Section 21203) Homework: HW #52 Score: 0 of 2 pts 8.5.27 Five thousand tickets are sold at $1 each for a charity raffle. Tickets are to be drawn at random and monetary prizes awarded as 40f 12 (5 complete) HW Score: 28%, 5 6 of 20 pts E Queston Help $300, 5 prizes of $50, and 20 prizes of $5. What is the expected valuse of this raffe if you buy 1 ticker? a. Let X be the random variable for the amount won on a singla raffle ticket Complete the payoff table for the random variable X xi Enter the net amount won in decreasing order ) (Type probabilities as decimals ) Pi Enter your answer in the edit fields and then click Check Answer

Explanation / Answer

Ans:

x p(x) x*p(x) 1000 0.0002 0.2 300 0.0006 0.18 50 0.001 0.05 5 0.004 0.02 Expected value= 0.45

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