SOLUTION: A $1 lottery game has following payouts and probabilities
$5000 .000002
$1000 .00001
$500 .0002
$50 .001
$5 .03
$1 .12
what is the expecte
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Question 430408: A $1 lottery game has following payouts and probabilities
$5000 .000002
$1000 .00001
$500 .0002
$50 .001
$5 .03
$1 .12
what is the expected value of this game?
a) .35
b) 1.64
c) .06
d) .44
e) 1.53
I chose .44, am I right?
Thanks
Dave
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
That is right.
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