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A regional automobile dealership sent out fliers to prospective customers indicating that they had already won one of three different? prizes: an automobile valued at ?$27,000, a ?$125 gas? card, or a ?$5 shopping card. To claim his or her? prize, a prospective customer needed to present the flier at the? dealership's showroom. The fine print on the back of the flier listed the probabilities of winning. The chance of winning the car was 1 out of 31,852?, the chance of winning the gas card was 1 out 31,852, and the chance of winning the shopping card was 31,850 out of 31,852. Complete parts? (a) through? (c).
a. How many fliers do you think the automobile dealership sent? out?
31852 fliers
b. Using your answer to? (a) and the probabilities listed on the? flier, what is the expected value of the prize won by a prospective customer receiving a? flier?
=?$5.86
c. Using your answer to? (a) and the probabilities listed on the? flier, what is the standard deviation of the value of the prize won by a prospective customer receiving a? flier?
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