Determine the expected value in a simple probability situation involving theoretical probability a lottery has a $1 000 000 first prize, a $25 000 second prize, and five $1 000 third prizes. A total of 2 000 000 tickets are sold. Calculate the expected winnings.

Question

27-10-2022
Mathematics

contestada

Determine the expected value in a simple probability situation involving theoretical probability a lottery has a $1 000 000 first prize, a $25 000 second prize, and five $1 000 third prizes. A total of 2 000 000 tickets are sold. Calculate the expected winnings.

Respuesta :

Otras preguntas

why would a country not celebrate this holiday United Nations Day on October 24

If someone runs a red light in front of you, and you choose NOT to slow down or steer away, you will __ A. not be at fault if there is a collision B. be partial

Read the passage and answer the questions. Salt Limiting your fast food considerably decreases your sodium intake. Most restaurants use too much sodium, or salt

A company produces two products, A and B. The sales volume for A is at least 80% of the total sales of both A and B. However, the company cannot sell more than

Which of the following does NOT describe a political cartoon? A. provokes thought on a political topic B. usually one panel the drawing must be humorous D. main

help help help spanish

Where is North America on the globe. A.) Northern Hemisphere B.) Equator C.) Southern Hemisphere D.) None

How is Madeline a tortured character in the house of usher

density gives us information about how atoms in a material are

Proposition 2.30. Suppose X and Y are topological spaces, and f : X → Y is any map. (a) f is continuous if and only if f (A c f(A) for all ASX. (b) f is closed

ACCESS MORE EDU ACCESS

RidhimaN647444 RidhimaN647444 · Answer 1 · 2022-10-27T19:22:35+02:00

Determine the expected value in a simple probability situation involving theoretical probability a lottery has a $1 000 000 first prize, a $25 000 second prize, and five $1 000 third prizes. A total of 2 000 000 tickets are sold. Calculate the expected winnings

we have that

expected winnings=7/2,000,000=0.00035%

because

there are 7 prizes (first, second and five third prizes) and a total of 2,000,000 tickets