A community for students.

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing


  • one year ago

In a radio station contest, the first prize is $2,000 and the second prize is $500. The probability of winning the first prize is 0.005 and the probability of winning the second prize is 0.008. The station runs this contest many, many times to increase its listening audience. What is the expected payout for each time the station offers the opportunity to win the prizes?

  • This Question is Closed
  1. anonymous
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Answer is $14 = $2,000 x 0.005 + 500 x 0.008 = $10 + $4 = $14

  2. Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...


  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.