Thursday

April 17, 2014

April 17, 2014

Posted by **emma** on Wednesday, July 31, 2013 at 9:21pm.

Prize Probability

Jackpot 1 in 60,000,000

$12,000 1 in 100,000

$750 1 in 10,000

$5 1 in 200

You know that it costs $2 to purchase the lottery ticket in order to play the game. What would you conclude in your term paper regarding the calculated expected value of your state’s game if the jackpot is $50,000,000? How would you interpret the meaning of this expected value so that the reader of your paper would understand it well?

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