2. A local charity is selling one thousand raffle tickets at $1 a piece. The grand...

 

 

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2. A local charity is selling one thousand raffle tickets at $1 a piece. The grand prize is $250, with two second prizes of $100, and five third prizes of $50. Part A: Fill in the probability distribution with the appropriate values and the probabilities. Amount of Money Won ($) Grand Prize $ Second Prize Third Prize No Prize EA $99 -$1 Probability of Winning .001 L .005 Part B: What is the expected value of a raffle ticket? Round to the nearest cent. The expected value of a raffle ticket is $ (Responses: -, +) Part C: This expected value means that for each purchase of a raffle ticket you are expected to (Responses: lose, gain) Responses: ticket buyer, local charity) money. This raffle favors the 3. A major newspaper once reported that 74% of airline passengers prefer to sleep on long flights rather than watch movies or read. Consider randomly selecting 25 passengers from a particular long flight. Part A: On average, how many of the 25 selected passengers would the newspaper expect to sleep on a long flight? A. 18 B. 18.5 C. 19 D. 19.5 2. A local charity is selling one thousand raffle tickets at $1 a piece. The grand prize is $250, with two second prizes of $100, and five third prizes of $50. Part A: Fill in the probability distribution with the appropriate values and the probabilities. Amount of Money Won ($) Grand Prize $ Second Prize Third Prize No Prize EA $99 -$1 Probability of Winning .001 L .005 Part B: What is the expected value of a raffle ticket? Round to the nearest cent. The expected value of a raffle ticket is $ (Responses: -, +) Part C: This expected value means that for each purchase of a raffle ticket you are expected to (Responses: lose, gain) Responses: ticket buyer, local charity) money. This raffle favors the 3. A major newspaper once reported that 74% of airline passengers prefer to sleep on long flights rather than watch movies or read. Consider randomly selecting 25 passengers from a particular long flight. Part A: On average, how many of the 25 selected passengers would the newspaper expect to sleep on a long flight? A. 18 B. 18.5 C. 19 D. 19.5