The Prizes That Can Be Won in a Sweepstakes Are

question 108

Multiple Choice

The prizes that can be won in a sweepstakes are listed below together with the chances of winning each one: $3500 (1 chance in 8800) ; $1400 (1 chance in 6300) ; $600 (1 chance in 3000) ; $200 (1 chance in 2900) . Find the expected value of the amount won for one entry if the cost of entering is 55 cents.

• A) $0.34
• B) $0.42
• C) $200
• D) $0.82

---

Definitions:

Positions

The specific outcomes or demands that negotiating parties initially put forward as their goals.

Competence

Competence is the ability to perform a task or role successfully, demonstrating a required level of skill, knowledge, and judgment.

Discomfort

A feeling of physical or psychological unease or distress.

External Factors

External factors refer to the external environment's influences on a business or situation, including economic conditions, societal trends, and governmental policies.