SOLUTION: A safe containing $1,000,000 is locked with a combination lock. You pay $1 for one guess at the six-digit combination. If you open the lock, you get to keep the million dollars. Wh

Algebra ->  Probability-and-statistics -> SOLUTION: A safe containing $1,000,000 is locked with a combination lock. You pay $1 for one guess at the six-digit combination. If you open the lock, you get to keep the million dollars. Wh      Log On


   

Question 256679: A safe containing $1,000,000 is locked with a combination lock. You pay $1 for one guess at the six-digit combination. If you open the lock, you get to keep the million dollars. What is your expectation?
Answer by edjones(8007) About Me  (Show Source):
You can put this solution on YOUR website!
1/10^6=1/1,000,000 probability of winning
1000000 * 1/1000000=$1. the expectation