Question
The college student senate is sponsoring a spring break Caribbean cruise raffle. The proceeds are to be donated to the Samaritan Center for the Homeless.
The college student senate is sponsoring a spring break Caribbean cruise raffle. The proceeds are to be donated to the Samaritan Center for the Homeless. A local travel agency donated the cruise, valued at $2000. The students sold2799raffle tickets at $5 per ticket.
(a) Kevin boughtthirtytickets. What is the probability that Kevin will win the spring break cruise to the Caribbean? (Round your answer to five decimal places.)
What is the probability that Kevin will not win the cruise? (Round your answer to five decimal places.)
(b) Expected earnings can be found by multiplying the value of the cruise by the probability that Kevin will win. What are Kevin's expected earnings? (Round your answer to two decimal places.)
$
Is this more or less than the amount Kevin paid for thethirtytickets?
---Select---
less
more
How much did Kevin effectively contribute to the Samaritan Center for the Homeless? (Round your answer to two decimal places.)
$
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
9th Canadian Edition, Volume 2
470964731, 978-0470964736, 978-0470161012
