A Raffle Ticket Costs $5

question 44

Multiple Choice

A raffle ticket costs $5. First-prize and second-prize winners will be drawn at random. The probability of winning the $100 first prize is 1/40, and the probability of winning the $25 second prize is 1/20. What is the mean winnings for one play, taking into account the $5 cost of the ticket?

• A) −$1.25
• B) −$0.875
• C) $3.375
• D) $3.75

Comprehend the role of operant conditioning in behavior modification and biofeedback.

Grasp the concept and examples of biofeedback in health and behavior management.

Recognize the significance of observational learning and its impact on behavior.

Understand the principles of latent learning and insight in problem-solving.

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Definitions:

Promotional Campaign

A series of advertisements or efforts aimed at increasing awareness or sales of a specific product or service.

More Inelastic

Describes a situation where the demand for a product or service is less responsive to changes in price.

Name Brands

Brands that are widely recognized and generally perceived as indicative of quality and reliability.

Promotional Campaign

A planned series of activities designed to advertise and create awareness or interest in a product or service.