Mathematics, 19.03.2021 05:30 princessgabbee8452
Five hundred chances are sold at $5 apiece for a raffle. There is a grand prize of $500, two second prizes of $250, and five third prizes of $100. Use the table to find the expected value Outcome 1st prize 2nd prize 3rd prize No prize Probability 0.002 0.004 0.01 0.984 Value $495 $245 $95 $-5 a) What is the expected value? b) Should you play the game?
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Five hundred chances are sold at $5 apiece for a raffle. There is a grand prize of $500, two second...
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