Multiple Choice
Use the normal distribution to approximate the desired probability.
-The prizes that can be won in a sweepstakes are listed below together with the chances of winning each one: $5300 (1 chance in 8600) ; $2500 (1 chance in 5300) ; $700 (1 chance in 3500) ; $200 (1 chance in 2800) . Find the expected value of the amount won for one entry if the cost of entering is 73 cents.
A) $0.67
B) $0.63
C) $1.29
D) $200
Correct Answer:
Verified
Correct Answer:
Verified
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