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falcon6
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$0.75 probability 8-53

Q:
A lottery has a first prize of $5000, two second
prizes of $1000 each, and two $100 third prizes. A total of
10,000 tickets is sold, at $1 each. Find the expected winnings of a person buying 1 ticket.

ANSWER:
-28ยข
i need help with the steps
 


   
   
   
   
 
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b_h
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$0.75 Expected Value of Lottery Ticket

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  • Posted on May 14, 2009 at 2:25:12PM
A:
Preview: ... prize is 1/10000. The payoff is 5000-1 = 4999, the prize minus the cost of the ticket.<br><br>The ...

The full tutorial is about 71 words long .
   
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