Inactive Tutor answered • 10/20/15
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To find the expected value, multiple each outcome (amount of money) by its probability and add all the numbers up. Hope that helps!
Shelby T.
asked • 10/20/15A state lottery...
A state lottery ticket costs $1. The probability of winning $1,000,000 is 0.0000001, the probability of winning 1,000 is 0.000005, and the probability of winning $10 is 0.0002. Find the expected value on one ticket.
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