SOLUTION: A lottery ticket pays out $6 with probability 0.003 and $600 with probability 0.00055. How much money will the average ticket pay?
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Question 536421: A lottery ticket pays out $6 with probability 0.003 and $600 with probability 0.00055. How much money will the average ticket pay? Answer by edjones(8007) (Show Source):
You can put this solution on YOUR website! .003 * 6 = .018
.00055 * 600 = .33
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.018 + .33 = 34.8 cents the average ticket will pay.
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Ed
