A regional automobile dealership sent out fliers to prospective customers indicating that they had already won one of three different​ prizes: an automobile valued at ​$​, a ​$ gas​ card, or a ​$ shopping card. To claim his or her​ prize, a prospective customer needed to present the flier at the​ dealership's showroom. The fine print on the back of the flier listed the probabilities of winning. The chance of winning the car was 1 out of ​, the chance of winning the gas card was 1 out of and the chance of winning the shopping card was out of 31,866​, the chance of winning the gas card was 1 out of 31,866, and the chance of winning the shopping card was 31,864 out of 31,866.

Required:
a. How many fliers do you think the automobile dealership sent​ out?
b. Using your answer to​ (a) and the probabilities listed on the​ flier, what is the expected value of the prize won by a prospective customer receiving a​ flier?
c. Using your answer to​ (a) and the probabilities listed on the​ flier, what is the standard deviation of the value of the prize won by a prospective customer receiving a​ flier?

Answers

Answer 1

Answer:

(a) 31101

(b) $5.65

(c) $113.38

Step-by-step explanation:

The complete question is:

A regional automobile dealership sent out fliers to prospective customers indicating that they had already won one of three different prizes: an automobile valued at $20,000, a $125 gas card, or a $5 shopping card. To claim his or her prize, a prospective print on the back of the flier listed the probabilities of winning. The chance of winning the car was 1 out of 31,101, the chance of winning the gas card was 1 out of 31,101, and the chance of winning the shopping card was 31, 099 out of 31,101.

Solution:

The information provided is as follows:

[tex]P(\text{Car})=\frac{1}{31101}\\\\P(\text{Gas Card})=\frac{1}{31101}\\\\P(\text{Shopping Card})=\frac{31099}{31101}[/tex]

(a)

The number of fliers the automobile dealership sent​ out is, n = 31,101.

This is because the probability of winning any of the three prize is out of 31,101.

(b)

Compute the expected value of the prize won by a prospective customer receiving a​ flier as follows:

[tex]E(X)=\sum x\times P(X=x)[/tex]

         [tex]=[20000\times \frac{1}{31101}]+[125\times \frac{1}{31101}]+[5\times \frac{31099}{31101}]\\\\=0.6431+0.0040+4.9997\\\\=5.6468\\\\\approx 5.65[/tex]

Thus, the expected value of the prize won by a prospective customer receiving a​ flier is $5.65.

(c)

Compute the standard deviation of the prize won by a prospective customer receiving a​ flier as follows:

[tex]SD(X)=\sqrt{V(X)}=\sqrt{E(X^{2}-(E(X))^{2}}[/tex]

           [tex]=\sqrt{[(20000)^{2}\times \frac{1}{31101}+(125)^{2}\times \frac{1}{31101}+(5)^{2}\times \frac{31099}{31101}]-(5.65)^{2}}\\\\=\sqrt{12854.9011}\\\\=113.37947\\\\\approx 113.38[/tex]

Thus, the standard deviation of the prize won by a prospective customer receiving a​ flier is $113.38.


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Answer:

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Answers

Answer:

Step-by-step explanation:

⅝ ÷½

=⅝ײ/1

=⁵/4

=1¼

Whenever you divide two fractions you rewrite it switching the division sign for multiplication and writing the reciprocal of the second fraction.

A fraction is written in the form of a numerator and a denominator where the denominator is greater than the numerator.

5/8 of the pizza is equally shared between two people.

The fraction of the original pizza that each person receives is 5/16 of the pizza.

What is a fraction?

A fraction is written in the form of a numerator and a denominator where the denominator is greater than the numerator.

Example: 1/2, 1/3 is a fraction.

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Thus,

5/8 of the pizza is equally shared between two people.

The fraction of the original pizza that each person receives is  5/16 of the pizza.

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Answers

Step-by-step explanation:

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Answer:

Sally borrowed twenty-five dollars from Alex to buy a movie at the store. Later, she borrowed another thirty-five dollars to buy ride tickets at the state fair. How much money does she owe Alex?

Step by-step explanation:

When you have an even number of negative numbers in an equation, the answer will always be positive. When there's an odd number of negative numbers, the answer will be negative. For a problem like this, you can ignore the negative signs and focus on the numbers. 25+35 is 60, so Sally owes Alex 60 dollars.

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Answers

Answer:

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Step-by-step explanation:

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Answer:

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Thus, the probability that a randomly-selected club member holds a brown belt or a purple belt is 0.821 which is nearest to 0.762.

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Answers

Answer:

What are the roots of the quadratic equation x²-81=0

Answer:

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Step-by-step explanation:

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Answers

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Answers

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Step-by-step explanation:

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Answer:

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Answers

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