A travel softball team is trying to raise funds to go to the Colorado Sparkler, a...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image](https://dsd5zvtm8ll6.cloudfront.net/si.experts.images/questions/2023/02/63f5b0071a279_76663f5b006e1793.jpg)
![image](https://dsd5zvtm8ll6.cloudfront.net/si.experts.images/questions/2023/02/63f5b007f3946_76763f5b007dd912.jpg)
Transcribed Image Text:
A travel softball team is trying to raise funds to go to the Colorado Sparkler, a major summer national tournament. The team is going to sell 3000 raffle tickets for $9 each. The prizes and their probabilities are summarized in the following table. What is the expected value for this for the prize amount for one entry? Round your answer to the nearest hundredth (since we're talking about dollars and cents). You might get a negative answer, if so, include the sign. Don't worry about the dollar sign. 7 Prize Amount, x $3,831 $1,256 $463 $218 -$9 Type your answer... Probability of Winning, P(x) 1/3000 1/3000 2/3000 2/3000 2994/3000 1 point Suppose that 17% of people are left handed. If 16 people are selected at random, what is the probability that exactly 5 of them are left handed? Don't forget to identify the values of n, x, p, and q before computing. If your rate is given as a percent, remember to write it as a decimal first. Use the binomial probability formula and write your answer as a decimal rounded to four places. Type your answer.... Assume that a procedure yields a binomial distribution with a trial repeated n times. n=20,x=5.p=1/10 Don't forget to identify the values of n, x, p, and q before computing. If your rate is given as a percent or fraction, remember to write it as a decimal first. Use the binomial probability formula and write your answer as a decimal rounded to four places. Type your answer... 9 1 point A crewmate on an airship completes tasks every morning in March. The number of tasks completed has a Poisson distribution with a mean of μ-4.2. Find the probability that on a randomly selected morning, the number of tasks completed is x = 13. Use the Poisson Distribution to find the indicated probability. Write your answer as a decimal rounded to four places. Type your answer.... 10 1 point If the random variable x has a Poisson Distribution with mean µ-4.10, find the probability that x = 14. Use the Poisson Distribution to find the indicated probability. Write your answer as a decimal rounded to four places. Type your answer.... -DS A travel softball team is trying to raise funds to go to the Colorado Sparkler, a major summer national tournament. The team is going to sell 3000 raffle tickets for $9 each. The prizes and their probabilities are summarized in the following table. What is the expected value for this for the prize amount for one entry? Round your answer to the nearest hundredth (since we're talking about dollars and cents). You might get a negative answer, if so, include the sign. Don't worry about the dollar sign. 7 Prize Amount, x $3,831 $1,256 $463 $218 -$9 Type your answer... Probability of Winning, P(x) 1/3000 1/3000 2/3000 2/3000 2994/3000 1 point Suppose that 17% of people are left handed. If 16 people are selected at random, what is the probability that exactly 5 of them are left handed? Don't forget to identify the values of n, x, p, and q before computing. If your rate is given as a percent, remember to write it as a decimal first. Use the binomial probability formula and write your answer as a decimal rounded to four places. Type your answer.... Assume that a procedure yields a binomial distribution with a trial repeated n times. n=20,x=5.p=1/10 Don't forget to identify the values of n, x, p, and q before computing. If your rate is given as a percent or fraction, remember to write it as a decimal first. Use the binomial probability formula and write your answer as a decimal rounded to four places. Type your answer... 9 1 point A crewmate on an airship completes tasks every morning in March. The number of tasks completed has a Poisson distribution with a mean of μ-4.2. Find the probability that on a randomly selected morning, the number of tasks completed is x = 13. Use the Poisson Distribution to find the indicated probability. Write your answer as a decimal rounded to four places. Type your answer.... 10 1 point If the random variable x has a Poisson Distribution with mean µ-4.10, find the probability that x = 14. Use the Poisson Distribution to find the indicated probability. Write your answer as a decimal rounded to four places. Type your answer.... -DS
Expert Answer:
Answer rating: 100% (QA)
7 To compute the expected value for the prize amount for one entry we need to multiply each prize am... View the full answer
Related Book For
Managerial economics
ISBN: 978-1118041581
7th edition
Authors: william f. samuelson stephen g. marks
Posted Date:
Students also viewed these mathematics questions
-
A minor league baseball team is trying to predict ticket sales for the upcoming season and is considering changing ticket prices. a. The elasticity of ticket sales with respect to the size of the...
-
You are trying to raise funds for a nonprofit corporate. Need a business plan to show to the private and corporate sector. you need to raise 2.7 million dollars to build a FIFA soccer stadium in a...
-
A small privately held corporation is trying to raise money for a business expansion. The total cost of the expansion is $5,000,000. The expected return on assets before taxes (EBIT) for the business...
-
Christine has three cars that must be overhauled by her ace mechanic, Megan. Given the following data about the cars, use least slack per remaining operation to determine Megans scheduling priority...
-
What is a handle, and how does a process obtain a handle?
-
In small groups, discuss the differences between the foodservice operations; then, share with the class?
-
A company has 7000 cartons to store on pallets. Each pallet takes 30 cartons, and the cartons are stored four high. How many pallet positions are needed? LO.1
-
Under the Bankruptcy Code after the 2005 act, what must Janet do before filing a petition for relief under Chapter 7? Three months ago, Janet Harts husband of twenty years died of cancer. Although he...
-
The following information is given: $80.000 40,000 30,000 Net income (including Depreciation expenses of $9,000) Account receivable beginning balance Account receivables ending balance Increase in...
-
Read the following two-part scenario and answer the questions provided. In each of your responses, please include: A clear answer that shows your understanding of the course material All of the...
-
The following information is available: Flexible-budget variance = $120,000 (F), sales-quantity variance = $250,000 (F), sales-mix variance = $300,000 (F),market-size variance = $80,000 (U)....
-
5) A frictionless rod of length L rotates counterclockwise in the with constant angular speed w at an angle a to the z axis. A bead of mass m, free to slide on the rod, leaves the origin with initial...
-
1) Louisa is a corn farmer in Illinois. She anticipates a harvest in August of 3 million bushels of yellow corn. Today is May. Louise plans to hedge her sale of corn in August using corn futures...
-
2. DETAILS MY NOTES In a statistical test, we have a choice of a left-tailed test, a right-tailed test, or a two-tailed test. Is it the null hypothesis or the alternate hypothesis that determines...
-
2. The model of a two-story building shown in Figure 2. The girders are assumed to be rigid, and the columns have flexural rigidities EI and EI2, with negligible masses. The stiffness of each column...
-
Prepare journal entries to record these transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually....
-
+ Hollywood Tabloid needs a new state of the art camera to produces monthly magazine. The company is looking at the cameras that are both capable of doing the job and has determined the following 25...
-
When an electric field is applied to a shallow bath of vegetable oil, why do tiny bits of thread floating in the oil align with the field like compasses in a magnetic field?
-
The developer of a new shopping mall is negotiating the terms of a store lease with a sporting goods firm. The developer is pressing the store for an increase in monthly rent. The store offers to pay...
-
Firm Z faces the price equation P = 50 + A.5 - Q, and the cost function C = 20Q + A, where A denotes advertising spending. a. Other things (price) held constant, does an increase in advertising...
-
Explain the difference between diminishing returns and decreasing returns to scale.
-
22.7. Your U.S. based company has an opportunity to break into the British market, but your CEO is concerned about the currency risk of such a venture. You estimate that sales in the United Kingdom...
-
22.11. Disney wants to borrow 24 million for three years while Metallgesellschaft wants to borrow US$20 million for three years. The spot exchange rate is currently 1.20/$. Suppose Disney and...
-
22.10. General Motors has an obligation to deliver 2 million barrels of oil in six months at a fixed price of $25 per barrel. European options exist to buy oil in six months at $28 per barrel. Assume...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App