Question
A lottery offers one $1000 prize, one $500 prize, and two $50 prizes. One thousand tickets are sold at $4.00 each. Find the expectation of
A lottery offers one $1000 prize, one $500 prize, and two $50 prizes. One thousand tickets are sold at $4.00 each. Find the expectation of winning amount if a person buys one ticket. Create a probability distribution as part of your answer.
Please show all work and formulas used, thank you
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Elementary Statistics A Step By Step Approach
Authors: Allan Bluman
8th Edition
73386103, 978-0073386102
