A contest at a fast-food restaurant offered the following cash prizes and probabilities of winning on one visit when a customer buys an order of French fries for $1.56. Find the expected winnings if the player buys 19 orders of French fries on multiple visits.| Prize | Probability ||-----------|------------------|| $100,000 | 1/8,504,860 || $50,000 | 1/302,500 || $10,000 | 1/282,735 || $1,000 | 1/153,560 || $100 | 1/104,560 || $25 | 1/9,540 |**Question:** What are the expected winnings if the player buys 19 orders of French fries on multiple visits?In this context, you would calculate the expected winnings by multiplying each prize by its respective probability of winning and summing these values. Then, multiply this sum by 19, reflecting the 19 orders of French fries.

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Given : A contest at a fast food restaurant offered the following cash prizes and probabilities of winning on one visit when a customer busy an order of French fries for $1.56 . The expected winnings if the player buys 19 orders of French fries on multiple visits ? Let, X be the cash prizes of contest & P(X) be the corresponding probabilities . Formula for Expected value is given as : E(X) = ∑X.P(X) Expected value is the sum of the products of the amount and its probability . Therefore , E(X) = 100,000 (1/8504860) + 50,000 (1/302500) + 10,000 (1/282735) + 1000 (1/153560) + 100 (1/104560) + 25(1/9540) =0.2225 This is the expected value of the winnings for the cost of $1.60. Also , If players buys 19 orders of French fries on multiple visits, then it is expected to winning is 19(0.225) = 4.275

Math

Probability

A contest at a fast-food restaurant offered the following cash prizes and probabilities of winning on one visit when a customer buys an order of French fries for $1.56. Find the expected winnings if the player buys 19 orders of French fries in multiple visits. Prize Probability 1/8,504,860 $100,000 $50,000 $10,000 $1,000 1/302,500 1/282,735 1/153,560 $100 1/104,560 $25 1/9,540 What are the expected winnings if the player buys 19 orders of French fries on multiple visits?

A contest at a fast-food restaurant offered the following cash prizes and probabilities of winning on one visit when a customer buys an order of French fries for $1.56. Find the expected winnings if the player buys 19 orders of French fries in multiple visits. Prize Probability 1/8,504,860 $100,000 $50,000 $10,000 $1,000 1/302,500 1/282,735 1/153,560 $100 1/104,560 $25 1/9,540 What are the expected winnings if the player buys 19 orders of French fries on multiple visits?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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