SOLUTION: Please help me solve this problem: A lottery ticket has pays out $10 with probability 0.06 and$1,000 with probability 0.0001. How much money will the average ticket pay?

Algebra ->  Algebra  -> Probability-and-statistics -> SOLUTION: Please help me solve this problem: A lottery ticket has pays out $10 with probability 0.06 and$1,000 with probability 0.0001. How much money will the average ticket pay?       Log On

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 Algebra: Probability and statistics Solvers Lessons Answers archive Quiz In Depth

 Question 537809: Please help me solve this problem: A lottery ticket has pays out $10 with probability 0.06 and$1,000 with probability 0.0001. How much money will the average ticket pay? Answer by solver91311(16897)   (Show Source): You can put this solution on YOUR website! 10 times 0.06 plus 1000 times 0.0001. Super-deluxe Double-plus Extra Credit. Would you play the game if each ticket cost \$0.69? John My calculator said it, I believe it, that settles it