(1 point) Prizes and the chances of winning in a sweepstakes are given in the table below.
Prize Chances
$15,000,000 1 chance in 200,000,000
$250,000 1 chance in 100,000,000
$50,000 1 chance in 10,000,000
$20,000 1 chance in 4,000,000
$900 1 chance in 100,000
A watch valued at $60 1 chance in 9,000
(a) Find the expected value (in dollars) of the amount won by one entry.

(b) Find the expected value (in dollars) if the cost of entering this sweepstakes is the cost of a postage stamp (34 cents)

Explanation:

Part a)

The expected value, E(x) is the sum of product of each outcome by its probability:

$15,000,000 × 1 / 200,000,000 + $250,000 × 1 / 100,000,000 +

+ $50,000 × 1 / 10,000,000 + $20,000 × 1 / 4,000,000 +

+ $900 × 1 / 100,000 + $60  × 1 / 9,000 =

= $0.075 + $0.0025 + $0.005 + $0.005 + $0.009 + $0.00667 = $0.10

Part b)

You have to subtract the cost of the stamp: $0.34

answer: (0,4)

step-by-step explanation: the graph passes through the point (0,4) and for each increase of 1 in the x-value. the y-value increase by 1.5. i hopes this