Mathematics: Alottery sells 1000 tickets at $1 apiece. there is one winner who receives $100, and 5 second place winners who receive $50 each. what is the expected value of a ticket? in your final answer, include the necessary calculations.

Alottery sells 1000 tickets at $1 apiece. there is

Ответ:

kbuhvu

14.03.2022

Chance of winning $100 = 1/1000
chance of winning $50 = 5/1000 = 1/200
cost of ticket = -1
E[x] = 100* 1/1000 + 50* 1/200 -1
= 0.1 + 0.25 - 1 = -0.65

Hope this helps

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Ответ:

jkirby29

17.08.2020

Mathematics

Idon't know ask google

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Alottery sells 1000 tickets at $1 apiece. there is one winner who receives $100, and 5 second place winners who receive $50 each. what is the expected value of a ticket? in your final answer, include the necessary calculations.

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