The college student senate is sponsoring a spring break caribbeancruise raffle.
ID: 2918773 • Letter: T
Question
The college student senate is sponsoring a spring break caribbeancruise raffle. the proceeds are to be donated to the samaritancenter for homeless. a local travel agency donated the cruise,valued at $2000. the students sold 2852 raffle tickets at $5 perticket.
a.) kevin bought 6 tickets. what is the probability that kevin willwin the spring break cruise to the caribbean? what is theprobability that kevin will not win the cruise?
b.) expected earnings can be found by multiplying the value of thecruise by the probability that kevin will win. what are kevinsexpected earnings? is this more or less than the amount kevin paidfor the 6 tickets? how much did kevin effectively contribute to thesamaritan center for the homeless?
Explanation / Answer
a) P(win) = # tickets from Kevin / # tickets in total = 6/2852 =3/1426 = 0.0021 b) Expectation Earning = 6/2852 * 2000$ - 6*5$ = 4.20$ - 30$ =-25.80 $ This is much less then he paid for the tickets. 2000/2852 = 0.70$ This is the price that each ticket is worth. Kevin buyed 6 tickets, which is 4.20$. The rest is donated He donated 30$ - 4.20$ = 25.80$