Posted by **Cecylia** on Friday, March 5, 2010 at 1:12pm.

A lottery has a grand prize of $180,000, two runner-up prizes of $22,500 each, eleven third-place prizes of $3600 each, and fourteen consolation prizes of $450 each. If 720,000 tickets are sold for $1 each and the probability of any one ticket winning is the same as that of any other ticket winning, find the expected return on a $1 ticket. (Round your answer to two decimal places.)

- Math -
**drwls**, Friday, March 5, 2010 at 6:36pm
(1/720,000)*180,000 + (2/720,000)*22,500 +(11/720,000)*3600 + (14/720,000)*450 = $ 0.38

- Math -
**Anonymous**, Wednesday, July 6, 2016 at 6:49pm
this is wrong, remove it.

## Answer This Question

## Related Questions

- stats math - Suppose you are selling raffle tickets for $3.00 each. You have the...
- Data Management - A lottery has one $1000000 prize, two $50000 prizes, ten $1000...
- stats - raffle with a grand prize $500., 2 second place prizes of $100., 4 third...
- math - Alottery has 100 tickerts which are placed in a barrel . Three tickets ...
- math - A raffle has a $500 first prize, two $100 second prizes and five $25 ...
- Statistics - You buy a lottery ticket to a lottery that cost $10 per ticket. ...
- stats - At a raffle, 1000 tickets are sold at $5 each. There are 20 prizes of $...
- Math 101 - Debra is buying prizes for a game at her school's fundraiser. The ...
- Math - it cost $2 to buy a raffle ticket. if there are 500 tickets sold, and ...
- Math 142 - 800 hundred chances are sold at $2 apiece for a raffle. There is a ...

More Related Questions