In a lottery, 3000 tickets are sold for $1 each. One first prize of $5000, 1 second prize of $1000, 3 third prizes of $100, and10 consolation prizes of $10 are to be awarded. What are the expected net earnings of a person who buys one ticket?

In a lottery, 3000 tickets are sold for $1 each. One first prize of $5000, 1 second prize of $1000, 3 third prizes of $100, and10 consolation prizes of $10 are to be awarded. What are the expected net earnings of a person who buys one ticket?

Name: In a lottery, 3000 tickets are sold for $1 each. One first prize of $5
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Description: In a lottery, 3000 tickets are sold for $1 each. One first prize of $5000, 1 second prize of $1000, 3 third prizes of $100, and10 consolation prizes of $10 are to be awarded. What are the expected net earnings of a person who buys one ticket?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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