For a multistate lottery, the following probabilitydistribution represents the cash prizes of the lotterywith their corresponding probabilities. Complete parts(a) through (c) below.x (cash prize, $)Grand prize200,00010,000P(x)0.000000005340.000000110.0000016231000.0001513950.0030788920.0084811360.0182950630.96999177866(a) If the grand prize is $18,000,000, find and interpret the expected cash prize, If a ticket costs $1, what is your expected profit from one tickThe expected cash prize is $ 0.26 . (Round to the nearest cent as needed.)What is the correct interpretation of the expected cash prize?A. You will win $0.26 on every lottery ticket.B. On average, you will win $0.26 per lottery ticket.Oc. On average, you will profit $0.26 per lottery ticket.The expected profit from one $1 ticket is s -0.74.(b) To the nearest million, how much should the grand prize be so that you can expect a profit?Enter your answer in the answer box and then click Check Answer.Clear Al

Given probability distribution:

For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) below. x (cash prize, $) Grand prize 200,000 10,000 P(x) 0.00000000534 0.00000011 0.000001623 0.000151395 100 0.003078892 0.008481136 4 3 0.01829506 0.96999177866 (a) If the grand prize is $18,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from or The expected cash prize is $ 0.26. (Round to the nearest cent as needed.) What is the correct interpretation of the expected cash prize? A. You will win $0.26 on every lottery ticket. B. On average, you will win $0.26 per lottery ticket. C. On average, you will profit $0.26 per lottery ticket. The expected profit from one $1 ticket is $ -0.74. (b) To the nearest million, how much should the grand prize be so that you can expect a profit?

For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) below. x (cash prize, $) Grand prize 200,000 10,000 P(x) 0.00000000534 0.00000011 0.000001623 0.000151395 100 0.003078892 0.008481136 4 3 0.01829506 0.96999177866 (a) If the grand prize is $18,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from or The expected cash prize is $ 0.26. (Round to the nearest cent as needed.) What is the correct interpretation of the expected cash prize? A. You will win $0.26 on every lottery ticket. B. On average, you will win $0.26 per lottery ticket. C. On average, you will profit $0.26 per lottery ticket. The expected profit from one $1 ticket is $ -0.74. (b) To the nearest million, how much should the grand prize be so that you can expect a profit?

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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