Find the Expected Value

question 21

Multiple Choice

Find the expected value.
-Suppose that 1,000 tickets are sold for a raffle that has the following prizes: one $300 prize,two $100 prizes,and one hundred $1 prizes.What is expected value of a ticket?

• A)$1
• B)$100
• C)$0.60
• D)$300

Know the importance and procedures of screening tests for prostate health.

Identify urgent genitourinary conditions requiring immediate medical intervention.

Identify key figures and their contributions to the abolitionist movement and the debate on slavery.

Understand the impact of abolitionist literature and activism on the antislavery movement.

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Definitions:

Chi-Square Statistic

Statistic that tests the difference between the distribution of observed frequencies and expected frequencies.

Expected Frequencies

The theoretical counts of occurrences across different categories or within bins that one would expect if the data followed a specific statistical distribution.

Chi-Square Statistic

A statistical measure used to determine the significance of the difference between observed and expected frequencies in categorical data.

Expected Frequencies

The anticipated count of occurrences in each category of a variable, calculated based on a theoretical distribution in the context of hypothesis testing.