Homework Help: business statistics

Posted by rick on Monday, December 10, 2012 at 9:18pm.

a state of indiana lotto ticket pays winners $0, $5, $25, and $200 with probabilities of 0.94, 0.03, 0.02, and 0.01 respectivley. the expected value of this ticket is

business statistics - MathGuru, Tuesday, December 11, 2012 at 6:12pm
Multiply each payout by its respective probability, then add for a total. This will be the expected value.

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