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Old History Museum in Tin Cup, CO, is trying to raise money for building restoration. They are selling ticket?
for all expenses paid trip to Hawaii for 2. A travel agent sold them the trip for $2479.16, and friends of museum sold 1792 tickets @ $4 per ticket. (a) Karen is a friend of the museum who sold 10 tickets to her father. What is the probability that her father (1) will win the trip? (2) will not win the trip?
(b) Find the expected gain for Karen's father.
Please help me because I need this answer by tomorrow.
1 Answer
- BeeFreeLv 78 years agoFavorite Answer
swindling -
(1) will win the trip?
P(win) = 10 / 1792 = 5 / 896
(2) will not win the trip?
1 - 10 / 1792 = 1782 / 1792 = 891 / 896
(b) Find the expected gain for Karen's father.
expected gain = -40 + (5/896)(2479.16) = -$26.17
So, he is expected to lose $26.17
hope that helped
