1. Tickets for a raffle cosr $$10. There were 693 tickets sold. One ticket will
ID: 3176452 • Letter: 1
Question
1. Tickets for a raffle cosr $$10. There were 693 tickets sold. One ticket will be randomly selected as the winner, and that person wins $$1800 and also the person is given back the cost of the ticket. For someone who buys a ticket, what is the Expected Value (the mean of the distribution)?
If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer rounded to two decimal places.
2.After being rejected for employment, Kim Kelly learns that the Bellevue Credit Company has hired only two women among the last 22 new employees. She also learns that the pool of applicants is very large, with an approximately equal number of qualified men as qualified women.
Help her address the charge of gender discrimination by finding the probability of getting two or fewer women when 22 people are hired, assuming that there is no discrimination based on gender.
(Report answer accurate to 8 decimal places).
P(at most two) =
Because this is a serious claim, we will use a stricter cutoff value for unusual events. We will use 0.5% as the cutoff value (1 in 200 chance of happening by chance). With this in mind, does the resulting probability really support such a charge?
yes, this supports a charge of gender discrimination
no, this does not support a charge of gender discrimination
Explanation / Answer
Probability of winning = 1/693
Probability of losing = 692/693
Expected value = 1800* 1/693 - 10* 692/693 = -7.388
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