A lottery posted the probabilities of winning each prize and the prizeamounts as shown in the chart to the right. Suppose that one lotteryticket costs $1. Find the expected value of the winnings for a singleticket. Then state how much you can expect to win or lose eachyear if you buy 10 lottery tickets per week? Should you actuallyexpect to win or lose this amount? Explain.The expected value of the winnings for a single ticket is $(Round to the nearest cent as needed)If you buy 10 tickets per week, you can expect to(Round to the nearest cent as needed.)You$expect to win or lose this amount becausePrizeProbability$3,000,000 1 in 100,000,001$300,000 1 in 50,000,001MOTO$30001 in 25,000,001each year....

We have given the probability of winning a lottery and winning prize.The cost of one lottery ticket…

Answered: A lottery posted the probabilities of…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Suppose you are invited to play a game in which you bet $1 on any number from 000 to 899. If your number comes up, you get $450. Find the expected winnings. Expected winnings = $ (Type an integer or decimal rounded to the nearest cent as needed.)
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 500 tickets. There is one $3,000 grand prize, three $500 second prizes, and seventeen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 500 tickets. There is one $1,000 grand prize, three $400 second prizes, and seventeen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.$
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $6 each and will sell 700 tickets. There is one $1,000 grand prize, three $400 second prizes, and fifteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 600 tickets. There is one $1,000 grand prize, four $ 200-second prizes, and fifteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $8 each and will sell 800 tickets. There is one $1,000 grand prize, three $400 second prizes, and seventeen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 700 tickets. There is one $2,000 grand prize, four $400 second prizes, and fourteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $6 each and will sell 800 tickets. There is one $1,000 grand prize, four $300 second prizes, and seventeen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.$
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If the lottery costs $1 per ticket, what is the expected net cash if you buy one ticket? Please remember to factor in the cost of playing. Round to the nearest cent. Expected Net Cash = $
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 600 tickets. There is one $2,000 grand prize, two $200 second prizes, and twelve $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $5 each and will sell 900 tickets. There is one $2,000 grand prize, four $200 second prizes, and fifteen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. $

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