document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=971347>Question 971347</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The chance of winning a lottery game is 1 in approximately 24 million. Suppose you buy a $1 lottery ticket in anticipation of winning the $6 million grand prize. Calculate your expected net winnings for this single ticket. Interpret the result. Find &#956;=E(x). </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #594299 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=594299\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> E(x)=winnings/probability.= $6 million/24 million = $(1/4), which is $0.25\r<BR>\n" );
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document.write( "Loss of $0.75 is expected value.  \r<BR>\n" );
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