SOLUTION: In a lottery game, a player picks six numbers from 1 to 27. If the player matches all six numbers, they win 30,000 dollars. Otherwise, they lose $1.
What is the expected value o
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-> SOLUTION: In a lottery game, a player picks six numbers from 1 to 27. If the player matches all six numbers, they win 30,000 dollars. Otherwise, they lose $1.
What is the expected value o
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Question 1135737: In a lottery game, a player picks six numbers from 1 to 27. If the player matches all six numbers, they win 30,000 dollars. Otherwise, they lose $1.
What is the expected value of this game? Answer by VFBundy(438) (Show Source):
You can put this solution on YOUR website! Odds of winning:
Therefore, the odds of losing are:
Expected value:
So, the expected value of the game is about -$0.90.
