A lottery offers five Php 1000, two Php 5,000, and one Php 10,000. One Thousand tickets are sold at Php 30 each. Find the expectation if a person buys one ticket.

Answer 1

The Theory is this the number of probability can be stated as possible out come divided by the total out come which can be expressed as 1000/30000= 1/3.

Total out come is 30000.

And the number of possible out come is 10000

So the answer is 1000/30000= 1/30