document.write( "Question 990164: One state lottery has 900 prizes of $1, 110 prizes of $10, 15 prizes of $65, 5 prizes of $310, 2 prizes of $1260, and 1 prize of $2700. Assume that 28000 lottery tickets are issued and sold for $1.
\n" ); document.write( "What is the lottery's expected profit per ticket?
\n" ); document.write( "What is the lottery's standard deviation of profit per ticket?\r
\n" ); document.write( "\n" ); document.write( "please help me out! \n" ); document.write( "
Algebra.Com's Answer #610579 by stanbon(75887)\"\" \"About 
You can put this solution on YOUR website!
One state lottery has 900 prizes of $1, 110 prizes of $10, 15 prizes of $65, 5 prizes of $310, 2 prizes of $1260, and 1 prize of $2700. Assume that 28000 lottery tickets are issued and sold for $1.
\n" ); document.write( "What is the lottery's expected profit per ticket?
\n" ); document.write( "------
\n" ); document.write( "E(X) = [900(0)+110(9)+15(64)+5(309)+2(1259)+2699+26967(-1)]/28000
\n" ); document.write( "E(X) = -$0.75
\n" ); document.write( "Each ticket buyer can expect to lose 75 cents.
\n" ); document.write( "The lottery's expected profit per ticket equals 75 cents
\n" ); document.write( "---------------
\n" ); document.write( "What is the lottery's standard deviation of profit per ticket?
\n" ); document.write( "I'll leave that to you.
\n" ); document.write( "------------
\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H.
\n" ); document.write( "------------- \n" ); document.write( "
\n" );