Add 3b to both sides, then simplify. Next, divide both sides by 6 and simplify it further, leading to the result of a = 4b/3.
Answer:
in steps
Step-by-step explanation:
In a fair roulette game, the likelihood of the ball landing on RED remains constant, regardless of prior spins.
a) 18/38
b) 18/38
c) Yes, I have confidence in my responses. Since it's fair, the number of RED slots does not change.
Response:
the expected value of this raffle if you purchase 1 ticket = -0.65
Breakdown of the calculation:
Details:
5,000 tickets are sold at $1 each for a charitable raffle
Winners will be chosen at random with cash prizes as follows: 1 prize of $500, 3 prizes of $300, 5 prizes of $50, and 20 prizes of $5.
Therefore, the value and its respective probability can be calculated as follows:
Value Probability
$500 - $1 = $499 1/5000
$300 - $1 = $299 3/5000
$50 - $1 = $49 5/5000
$5 - $1 = $4 20/5000
-$1 1 - 29/5000 = 4971/5000
The expected value of the raffle when buying 1 ticket is computed as follows:





So, the expected value of this raffle when one ticket is purchased = -0.65