A lottery with various prizes is shown in the table below. The probability of winning each prize is included. Prize Probability .0000000148 $1,000,000 $2,000 $500 $10 $0 .000816 .0025 .049 .94768 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 = $
A lottery with various prizes is shown in the table below. The probability of winning each prize is included. Prize Probability .0000000148 $1,000,000 $2,000 $500 $10 $0 .000816 .0025 .049 .94768 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 = $
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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From the provided information,
Prize | Probability |
$1,000,000 | 0.0000000148 |
$2,000 | 0.000816 |
$500 | 0.0025 |
$10 | 0.049 |
$0 | 0.94768 |
The lottery costs $1 per ticket.
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