A math club is researching a golf tournament fund-raiser. It will cost $1,000 to host the tournament. If it rains, the club will lose the investment. If it is sunny, it is expected that the club will collect $4,500 from the participants. If the chance of rain is 20%, solve for the expected value for the tournament.

A.) - $800

B.) - $200

C.) $2600

D.) $3400

Question

Benson

Mathematics

4 November, 20:18

A math club is researching a golf tournament fund-raiser. It will cost $1,000 to host the tournament. If it rains, the club will lose the investment. If it is sunny, it is expected that the club will collect $4,500 from the participants. If the chance of rain is 20%, solve for the expected value for the tournament.

A.) - $800

B.) - $200

C.) $2600

D.) $3400

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Answers (1)

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Emery Salinas · Answer 1

Cost of hosting the tournament : $1,000

If it rains, the club will lose the investment: $ - 1,000

If it is sunny, the club will collect $4,500; profit: 4,500 - 1000 = 3,500

chance of rain is 20%

-1,000 * 20% = - 200

3,500 * 80% = 2,800

2,800 - 200 = 2,600 Choice C.