Answered

Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Get immediate and reliable solutions to your questions from a knowledgeable community of professionals on our platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

A raffle at a local fair has tickets for purchase for$10 each. There are 100 total tickets in the raffle.The tickets are shuffled, then 3 are selected to wina $100 prize. Use the table below to help youcalculate the expected value of this raffle.

A Raffle At A Local Fair Has Tickets For Purchase For10 Each There Are 100 Total Tickets In The RaffleThe Tickets Are Shuffled Then 3 Are Selected To Wina 100 P class=

Sagot :

SOLUTION:

Step 1:

In this question, we are given the following:

Step 2:

The details of the solution are as follows:

The expected value of this raffle is calculated thus:

[tex]E(X)\text{ = x P\lparen x\rparen}[/tex][tex]\begin{gathered} (\frac{3}{100}\text{ x 90 \rparen + \lparen }\frac{2}{99}\text{ x 90 \rparen + \lparen}\frac{1}{98}\text{ x 90 \rparen + } \\ (\text{ 1 - \lparen}\frac{3}{100}\text{ + }\frac{2}{99}+\text{ }\frac{1}{98\text{ }})\text{ x -10 \rparen} \end{gathered}[/tex][tex](\frac{270}{100})\text{ + \lparen}\frac{180}{99})\text{ + \lparen}\frac{90}{98})\text{ + \lparen0.939593898 x -10 \rparen}[/tex][tex]2.7\text{ + 1.818181818 + 0.918367346 - 9.39593898}[/tex][tex]E(X)\text{ = -3.959389816 }[/tex][tex]E(X)\text{ }\approx-3.96\text{ \lparen correct to 2 decimal places\rparen}[/tex]

Note:

Can the expected value of a random variable be negative?

It is also called the expected value.

The expected value of a discrete random variable is equal to the mean of the random variable.

Probabilities can never be negative, but the expected value of the random variable can be negative.

CONCLUSION:

The final answer is:

[tex]E(X)\text{ = -3.96 \lparen correct to 2 decimal places\rparen}[/tex]

View image YuriyL415490
We hope our answers were helpful. Return anytime for more information and answers to any other questions you may have. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.