Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 29 Oct 2017 My Price 3.00

expected value of a ticket

For a raffle, 500 tickets will be sold.

a. What is the expected value of a ticket if the only prize is worth $600?

b. What is the expected value of a ticket if there is one prize worth $1000 and two prizes worth $400 each?

2. Refer to the example on burglary insurance on page 369. The burglary rate for a suburban location is 23.2 burglaries per 1000 households. If the home is in a suburban area, what should you charge for $5000 of burglary insurance in order to break even?

 

 

 
 

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Oct 2017 07:10 AM My Price 3.00

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