In a lottery, a player picks six numbers from 1 to 23. If the player matches all six numbers, they win 30,000 dollars. Otherwise, they lose $1. Find the expected value of this lottery. Round your answer to the nearest cent. Answer: ? Work: Outcome $30,000 Probability of Outcome $1 Additional work to get expečted value: ?
In a lottery, a player picks six numbers from 1 to 23. If the player matches all six numbers, they win 30,000 dollars. Otherwise, they lose $1. Find the expected value of this lottery. Round your answer to the nearest cent. Answer: ? Work: Outcome $30,000 Probability of Outcome $1 Additional work to get expečted value: ?
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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Transcribed Image Text:QUESTION 17
In a lottery, a player picks siix numbers from 1 to 23. If the player matches all six numbers, they
win 30,000 dollars. Otherwise, they lose $1. Find the expected value of this lottery. Round your
answer to the nearest cent.
Answer: ?
Work:
Outcome
$30,000
Probability of Outcome
$1
Additional work to get expečted value: ?
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