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The Prizes That Can Be Won in a Sweepstakes Are

Question 108

Multiple Choice

The prizes that can be won in a sweepstakes are listed below together with the chances of winning each one: $3500 (1 chance in 8800) ; $1400 (1 chance in 6300) ; $600 (1 chance in 3000) ; $200 (1 chance in 2900) . Find the expected value of the amount won for one entry if the cost of entering is 55 cents.


A) $0.34
B) $0.42
C) $200
D) $0.82

Correct Answer:

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