a local airline sent out an advertisement via email to its potential customers. It stated that the airline would br holding a lucky draw in which the prizes would be (i) fifteen airline tickets or 1,500 in cash, (ii) five airline tickets or $500 in cash, and (iii) three-dollar gas coupons redeemable at a local gas station. The fine print on the advertisement voucher indicated the probabilities of winning. The chance of willing (i) is 1 out of 42.376, (ii) was 1 out of 42.376, and (iii) was 42.374 out of 42.376

a. how many emails are sent out

b. using part a and the probabilities listed in the fine print what is the expected value of prize won by a customer

c. what is the standard deviation of the value of the prize

d. was this an effective promotion

Answer rating: 100% (QA)

a how many emails are sent out The chance of winning i is 1 out of 42376 Th... View the full answer