statistic
posted by Kim .
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.

statistic 
Reiny
the expected return is
28 million x .000000023 = 0.64
no, I would pay 64 cents.
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