Question

In a box there are two prizes that are worth $4, a single prize worth $20, and a single prize worth $200. A player will reach into the box and draw one of the prizes at random. What is the fair price for this game? Round your answer to the nearest hundredth, and do not include a $ sign or the word "dollars" in your response.

Answer #1

In a box there are four prizes that are worth $40, three prizes
worth $400, and one prize worth $3000.
A player will reach into the box and draw one of the prizes at
random.
What is the fair price for this game?
Round your answer to the nearest hundredth, and do not include a
$ sign or the word "dollars" in your response.

In a raffle where 2000 tickets are sold for $2 each, one first
prize of $600 and one second prize of $300 will be awarded. What is
the expected value of a single ticket in the raffle? Round your
answer to the nearest hundredth, and do not include a $ sign or the
word "dollars" in your response.

A lottery offers one $1000 prize, one $600 prize, two $300
prizes, and five $200 prizes. One thousand tickets are sold at $6
each. Find the expectation if a person buys three tickets. Assume
that the player's ticket is replaced after each draw and that the
same ticket can win more than one prize. Round to two decimal
places for currency problems.
The expectation if a person buys three tickets is $_______
please show work!
thank you!

I buy one of 400 raffle tickets for $20. The sponsors then
randomly select 1 grand prize worth $600, then 2 second prizes
worth $200 each, and then 3 third prizes worth $50each. The
selections are made without replacement.
(a) Complete the probability distribution for this raffle. Give
your probabilities as a decimal (rounded to 4 decimal
places) or as a fraction.
Outcomes
P(x)
Win
Grand Prize
Win a
Second Prize
Win a
Third Prize
Win
Nothing
(b) Recognizing that...

Lottery: I buy one of 400 raffle tickets for
$20. The sponsors then randomly select 1 grand prize worth $500,
then 2 second prizes worth $300 each, and then 3 third prizes worth
$100 each. The selections are made without replacement.
(a) Complete the probability distribution for this raffle. Give
your probabilities as a decimal (rounded to 4 decimal
places) or as a fraction.
Outcomes
P(x)
Win
Grand Prize
Win a
Second Prize
Win a
Third Prize
Win
Nothing
(b)...

7. Imagine you are in a game show. There are 10
prizes hidden on a game board with 100 spaces. One prize is worth
$50, three are worth $20, and another six are worth $10. You have
to pay $5 to the host if your choice is not correct. Let the random
variable x be the winning.
Complete the following probability distribution. (Show the
probability in fraction format and explain your work)
x
P(x)
-$5
$10
$20
$50
What is...

14. Imagine you are in a game show. There are 10 prizes hidden
on a game board with 100 spaces. One prize is worth $50, three are
worth $20, and another six are worth $10. You have to pay $5 to the
host if your choice is not correct. Let the random variable x be
the winning.
a. Complete the following probability distribution. (Show the
probability in fraction format and explain your work)
x
P(x)
-$5
$10
$20
$50
b....

Lottery: I buy one of 200 raffle tickets for
$10. The sponsors then randomly select 1 grand prize worth $300, 2
second prizes worth $80 each, and 3 third prizes worth $40 each.
Below is the discrete probability distribution for this raffle.
Prize
P(x)
Grand
1/200
Second
2/200
Third
3/200
None
194/200
(a) Recognizing that I spent $10 to buy a ticket, determine the
expected value of this raffle to me as a player. Round your
answer to the nearest...

Suppose that a price-searcher monopolist had a total cost
function given by: TC= 20 + 0.5Q
+0.2Q2. The demand for the price searcher's
product is given by: QD= 100 -20P.
Calculate the monopolist's profit.
(Do not include a dollar sign in your response. Round to the
nearest two decimals.)

Becky Fenton has 35/40/20 automobile insurance coverage. If two
other people are awarded $70000 each for injuries in an auto
accident in which Becky was judged at fault, how much of this
judgment would the insurance cover?
(Round your answer to the nearest whole number. Do not
include the comma, period, and "$" sign in your
response.)

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