Question
A theater group holds a fund-raiser. It sells 100 raffle tickets for $8 apiece. Suppose you purchase four tickets. The prize is two passes to
A theater group holds a fund-raiser. It sells 100 raffle tickets for $8 apiece. Suppose you purchase four tickets. The prize is two passes to a Broadway show, worth a total of $150.
part(a)
List the values that X may take on.
A 1,2,3,4
B -32,118
Part (d)
Construct a PDF. (Round your answers to two decimal places.)
X p(X=X) x*p(x=x)
Profit _________ _________ _________
Loss _______ _________ ____________
Part (e)
If this fund-raiser is repeated often and you always purchase four tickets, what would be your expected average winnings per raffle? (Round your answer to two decimal places.)
$__________
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