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.