document.write( "Question 729471: Can you please help me with this? Thank you so much for your time!
\n" ); document.write( "Tyrone pays $5 for a lottery ticket. There is a .1% chance that he will win $200, a 1% chance that he will win $50, and a 5.2% chance that he will win $25 (Otherwise he wins nothing). Find his expected payoff. How much can he expect to win or lose on average? Don't forget to include the price of the ticket! \n" ); document.write( "
Algebra.Com's Answer #445871 by stanbon(75887)\"\" \"About 
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Tyrone pays $5 for a lottery ticket. There is a .1% chance that he will win $200, a 1% chance that he will win $50, and a 5.2% chance that he will win $25 (Otherwise he wins nothing). Find his expected payoff. How much can he expect to win or lose on average? Don't forget to include the price of the ticket!
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\n" ); document.write( "Random Winning values: ......195......45.....20.........-5
\n" ); document.write( "Probabilities::::::::: .......1/100...1/100..5.2/100...92.8/100\r
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\n" ); document.write( "Expected winnings = [195 + 45 + 104 -464]/100 = -120/100 = -$1.20\r
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\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H.
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