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Question

Find the area under standard normal curve. To the right of z=-.65 B. Between -z=-2.33 and z=+2.33

 

A charity sells $6 raffle tickets first prizes to trace worth $3,000 2nd prize of $600 third prize is $40 and fourth prize $15 they sell 600 tickets what is the expected value

Answer 1

Pr(x > -.65) = .742

Pr( -2.33 < x< 2.33) = over .95 by the empirical rule

= ,98019 using z tables

expected value? 600 raffle tickets 4 prizes totalling $3655 tickets cost $5

EV = (3655 - 596(6)/600 = about 13 cents