## Confucious 3 years ago Need some confirmation on this one. It's attached.

1. Confucious

2. funinabox

that's quite the document you've attached there, Confucious.

3. Confucious

...Thank you :) .... can you help me....?

4. JuanitaM

yes, the first is correct

5. JuanitaM

yes for EV multiply by 6 since that is the number of chances he has. great job

6. Confucious

That would be 6 times the \$1.40 which is \$8.40 So he contributed \$8.40?

7. JuanitaM

no his expected value is 8.40 he contributed 6 tickets at 5

8. Confucious

I don't understand. Expected earnings is the 2000 times the probability that he'll win which is 6 out of 2852. That comes out to a dollar and 40 cents. How do I found out what he contributed to the place?

9. Confucious

find*

10. JuanitaM

his expected value is 8.40 he actually paid 30.00 so his EV is less than what he contributed

11. Confucious

I don't understand how his expected earnings come to 8.40. The problem says that you find it by multiplying the chance that he'll win (6/2852) by the value of the cruise (\$2000). The answer for that is \$4.21(made a mistake). How do I use that to find out how much he contributed?