A lottery offers one $1000 prize, two $600 prizes, two $300 prizes, and five $200 prizes. One thousand tickets are sold at $7 each. Find the expectation if a person buys three tickets. Assume that the player's ticket is replaced after each draw and that the same ticket can win more than one prize. Round to two decimal places for currency problems.

-$9.6

Step-by-step explanation:

X : ___ 1000 600 300 ___200

P(x): __ 1/1000 _ 2/1000 _ 2/1000 _ 5/1000

Expected winning per ticket :

Σ(X * p(X)) = [(1000 * 1/1000) + (600 * 2/1000) + (300 * 2/1000) + (200 * 5/1000) - price per ticket

= 1 + 1.2 + 0.6 + 1 - 7

= 3.8 - 7

= - $3.2

Expextwd winning if 3 tickets Is purchased :

3 * - 3.2= - $9.6

step-by-step explanation:

first, eliminate the parenthesis:

3

x

+

2

−

4

x

second, group like terms:

3

x

−

4

x

+

2

third, combine like terms:

(

3

−

4

)

x

+

2

→

−

1

x

+

2

→

−

x

+

2

answer:

it is general formula that is used to write value to its excet position

a11 a12 a13

a21 a22 a23

it is the example of order 2 by 3 matrix in this

a11 means value occur in 1 st row 1st column

a12 means value occurs in 1st row 2nd column

a13 means value occur in 1st row and 3rd column

a21 means value occurs in 2nd row and 1st column

a22 means value occurs in 2nd row and in 2nd column

a23 means value occurs in 2nd row and in 3rd column