Question

A box contains 6 tickets .two of the tickets carry a prize of rs.5 each and the other 4 tickets carry a prixe of re.1 each. if two tickets are drawn at random then what is the expected value of prize

Answer 1

Answer:

6rs

Random method gives equal opportunity.

Explanation:

Answer 2

Answer :

The expected value of the prize is Rs. 1.47.

Explanation :

To find the expected value of the prize, we need to multiply the probability of each outcome by the corresponding prize amount and then sum the results.

Let's first find the probability of each outcome. There are a total of 6 tickets in the box, so there are 6C2 = 15 ways to draw 2 tickets out of 6. The probability of drawing 2 tickets with a prize of Rs. 5 each is 2C2/6C2 = 1/15, and the probability of drawing 2 tickets with a prize of Re. 1 each is 4C2/6C2 = 6/15.

Now we can calculate the expected value of the prize:

Expected value = (Prize for 2 Rs. 5 tickets × Probability of drawing 2 Rs. 5 tickets) + (Prize for 2 Re. 1 tickets × Probability of drawing 2 Re. 1 tickets)

Expected value = (25(1/15)) + (21(6/15))

Expected value = (10/15) + (12/15)

Expected value = 22/15

Expected value = Rs. 1.47

Therefore, the expected value of the prize is Rs. 1.47.

In conclusion, the expected value of the prize is Rs. 1.47.

To know more about the concept please go through the links :

https://brainly.in/question/8949383

https://brainly.in/question/40190054

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