(expectation7) In a lottery every week, 2,000,000 tickets are sold for $1 apiece. If 4,000 of these tickets pay off $30 each, 500 pay off $800 each, one ticket pays off $1,200,000, and no ticket pays off more than one prize, what is the expected value of the winning amount for a player with a single ticket?
(expectation7) In a lottery every week, 2,000,000 tickets are sold for $1 apiece. If 4,000 of these tickets pay off $30 each, 500 pay off $800 each, one ticket pays off $1,200,000, and no ticket pays off more than one prize, what is the expected value of the winning amount for a player with a single ticket?
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section: Chapter Questions
Problem 35T
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