SOLUTION: Suppose your state lottery has an expected value of −38%. If you spend $30 per month on lottery tickets, how much money would you be expected to lose in an average year?

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Question 1131638: Suppose your state lottery has an expected value of
−38%.
If you spend $30 per month on lottery tickets, how much money would you be expected to lose in an average year?
We can expect to lose $
Answer by greenestamps(13200) About Me  (Show Source):
You can put this solution on YOUR website!


You would lose 38% of $30 every month for 12 months:

%280.38%29%2830%29%2812%29 = $136.80