Tuesday
October 21, 2014

Homework Help: statistic

Posted by Kim on Friday, August 27, 2010 at 1:09pm.

A lottery ticket has a grand prize of $28 million. The probability of winning the grand prize is .000000023. Based on the expected value of the lottery ticket, would you pay $1 for a ticket? Show your calculations and reasoning clearly.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Statistics - A lottery ticket has a grand prize of $28 million. The probability ...
Math - HELP A Certain state's lottery LOTTO, is set up so that each player pays...
Statisics - The state lottery claims that its grand prize is $1 million. The ...
Statisics - The state lottery claims that its grand prize is $1 million. The ...
Statistics - The state lottery claims that its grand prize is $1 million. The ...
Statistics - A lottery ticket costs $1 and the prize is $28,000,000. The ...
Math - A lottery has a grand prize of $180,000, two runner-up prizes of $22,500 ...
Math Probability - A certain state's lottery game, LOTTO, is set up so that each...
Math Probability - A certain state's lottery game, LOTTO, is set up so that each...
Math Probability *Repost* - A certain state's lottery game, LOTTO, is set up so ...

Search
Members