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) About Me  (Show Source):
You can put this solution on YOUR website!
That is right.