A lottery ticket has a grand prize of $34 million. The probability of winning the grand prize is .000000025. Determine the expected value of the lottery ticket. (Round your answer to 3 decimal places.) Expected value Would you pay $1 for a ticket? %24
A lottery ticket has a grand prize of $34 million. The probability of winning the grand prize is .000000025. Determine the expected value of the lottery ticket. (Round your answer to 3 decimal places.) Expected value Would you pay $1 for a ticket? %24
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter12: Angle Relationships And Transformations
Section: Chapter Questions
Problem 13PTTS
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![A lottery ticket has a grand prize of $34 million. The probability of winning the grand prize is .000000025.
Determine the expected value of the lottery ticket. (Round your answer to 3 decimal places.)
Expected value
Would you pay $1 for a ticket?
%24](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2c3dc0b3-bb07-419f-b173-0b72e0af6370%2Ffafb4942-9c67-45b5-bec6-a4280693213d%2F7tpkfi.jpeg&w=3840&q=75)
Transcribed Image Text:A lottery ticket has a grand prize of $34 million. The probability of winning the grand prize is .000000025.
Determine the expected value of the lottery ticket. (Round your answer to 3 decimal places.)
Expected value
Would you pay $1 for a ticket?
%24
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