Araffle has a grand prize of a european cruise valued at $10500 with a second prize of a rocky point vacation valued at $1400. if each ticket costs $5 and 10600 tickets are sold, what are the expected winnings far a ticket buyer? express to at least three decimal place accuracy in dollar form (as opposed to cents).

what are the expected winnings far a ticket buyer?

average loss on each ticket is -3.877

Explanation:

tthere are 10600 tickets sold at 5 dollars apiece.    

total money shelled out is 10600 * 5 = 53000    

one ticket wins 10500    

one ticket wins 1400.    

total value of all tickets sold is therefore -53000+ 10500 + 1400 = -41100    

the average gain on each ticket is therefore -41100 / 10600 = -3.877    

since a negative gains is a positive loss, then the average loss on each ticket is -3.877    

Expected value = $ -3.641

Explanation:

The probability of winning the grand prize = 1/10600

The probability of winning the 10500 = 1/10600

The probability of winning the second prize = 1/10600

The probability of winning the 1400 = 1/10600

Expected value = -5 + 1/10600 * 13000 + 1/10600 * 1400

Expected value = $ -3.641

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number