Krinkles potato chips is having a Lucky Seven Sweepstakes. The one grand prize is ($ 70,000 ;
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Krinkles potato chips is having a "Lucky Seven Sweepstakes." The one grand prize is \(\$ 70,000 ; 7\) second prizes each pay \(\$ 7,000\); 77 third prizes each pay \(\$ 700\); and 777 fourth prizes each pay \(\$ 70\). What is the expectation of this contest, if there are 10 million entries?
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The expectation of a contest like this is the average amount that someone would win if they entered ...View the full answer
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