Question

Consider a lottery game in which 7 out of 10 people lose, 1 out of 10...

Consider a lottery game in which 7 out of 10 people lose, 1 out of 10 wins $35, and 2 out of 10 wins $20. If you played this lottery about how much would you expect to win per game if the ticket costs $5?

Round your answer to two decimal places.

Math   Statistics-And-Probability   
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Answer #1

Expected profit is $2.5

Solution file is attached go through it

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