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Suppose the auction house from the preceding problem sold 200 tickets at $1 each, and had 16 prizes of $10 each. What is the new expected value?

A) $0
B) $0.2
C) –$0.2
D) $0.8

Respuesta :

Dontthankmebrainme
200/160=1.25

200+160=360/1.25/160=200.8

so your answer is 0.8

The new expected value is $0.8 if the auction house sold 200 tickets at $1 and had 16 prizes of $10 each.

What is expected value?

It is value which is calculated in the present but expect to come in future also.

How to calculate the expected value?

The expected value will be calculated as under:

Value on 16 prizes=200/160=1.25

Expected value will be =(200+160)/1.25/160

=200.8

So the value expected will be $0.8.

Learn more about expected value at https://brainly.com/question/10675141

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