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?
Algebra.Com
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) (Show Source): You can put this solution on YOUR website!
You would lose 38% of $30 every month for 12 months:
= $136.80
RELATED QUESTIONS
Suppose you buy one ticket for a dollar out of a lottery of a 1000 tickets. Where the... (answered by mbarugel,stanbon)
A lottery system has balls numbered 1 to 60 and randomly selects 7 of the lottery balls.... (answered by htmentor)
Vern buys fifteen lottery tickets each week at a cost of $2.00 each and spends $800 per... (answered by rfer)
Maria spends $12 on lottery tickets every week and spends $130 per month on food.
On an... (answered by Boreal)
Robert bought a $2 lottery ticket such that 1 in 100 would win $9, 1 in 1000 would win... (answered by math_tutor2020)
You buy a lottery ticket to a lottery that costs $10 per ticket. There are only 100... (answered by jim_thompson5910)
Suppose you buy a ticket for $1.00 out of a lottery of 1,000 tickets in which the prize... (answered by jim_thompson5910)
Suppose you buy 1 ticket for $1 out of a lottery of 3000 tickets. If the prize for the... (answered by drk)
Suppose you buy 1 ticket for $1 out of a lottery of 3000 tickets. If the prize for the... (answered by stanbon)