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 10,000 100 7 4 3 0 P(x) 0.00000000659 0.00000012 0.000001734 0.000144242 0.004333169 0.006773547 0.01338268 0.97536450141 (Round to the nearest cent as needed) U (a) If the grand prize is $17,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from one ticket? The expected cash prize is S
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 10,000 100 7 4 3 0 P(x) 0.00000000659 0.00000012 0.000001734 0.000144242 0.004333169 0.006773547 0.01338268 0.97536450141 (Round to the nearest cent as needed) U (a) If the grand prize is $17,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from one ticket? The expected cash prize is S
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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Question
100%
![K
ve this
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.
View an example Get more help -
◄ Previous
Q Search
x (cash prize, $)
Grand prize
200,000
10,000
100
7
4
3
hp
0
(a) If the grand prize is $17,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your
expected profit from one ticket?
The expected cash prize is $. (Round to the nearest cent as needed.)
CHOET–
P(x)
0.00000000659
0.00000012
0.000001734
0.000144242
0.004333169
0.006773547
0.01338268
0.97536450141
Clear all](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2fb92610-a244-4738-bcc8-0a4d66da937a%2F66663806-d771-4ee1-8c41-c219421fbb55%2Ffr7w0a_processed.jpeg&w=3840&q=75)
Transcribed Image Text:K
ve this
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.
View an example Get more help -
◄ Previous
Q Search
x (cash prize, $)
Grand prize
200,000
10,000
100
7
4
3
hp
0
(a) If the grand prize is $17,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your
expected profit from one ticket?
The expected cash prize is $. (Round to the nearest cent as needed.)
CHOET–
P(x)
0.00000000659
0.00000012
0.000001734
0.000144242
0.004333169
0.006773547
0.01338268
0.97536450141
Clear all
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