(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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