The following probabilities for winning money playing a lottery game are posted on lottery's website. The game costs $5 to play. $9,995 1 $995 35 $-5 Net Probability $95 116 617 61950 61950 61950 619 a. Calculate your expected value of a single ticket.
The following probabilities for winning money playing a lottery game are posted on lottery's website. The game costs $5 to play. $9,995 1 $995 35 $-5 Net Probability $95 116 617 61950 61950 61950 619 a. Calculate your expected value of a single ticket.
Chapter8: Sequences, Series,and Probability
Section: Chapter Questions
Problem 41CT: On a game show, a contestant is given the digits 3, 4, and 5 to arrange in the proper order to form...
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Question
![The following probabilities for winning money playing a lottery game are posted on the
lottery's website. The game costs $5 to play.
Net
$9,995
$995
$95
$-5
Probability
1
35
116
61798
61950
61950
61950
61950
a. Calculate your expected value of a single ticket.
b. Do you increase your probability of winning at least once by buying more than
one ticket? Why or why not?
c. Do you increase you expected value by buying more than one ticket? Why or why
not?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc9032c4a-2992-4194-9c0e-ce75e6cf26a1%2Fba364b7d-c797-4486-9271-299d8c32090c%2F9t7ugd_processed.png&w=3840&q=75)
Transcribed Image Text:The following probabilities for winning money playing a lottery game are posted on the
lottery's website. The game costs $5 to play.
Net
$9,995
$995
$95
$-5
Probability
1
35
116
61798
61950
61950
61950
61950
a. Calculate your expected value of a single ticket.
b. Do you increase your probability of winning at least once by buying more than
one ticket? Why or why not?
c. Do you increase you expected value by buying more than one ticket? Why or why
not?
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