Question
A magazine ran a sweepstakes in which prizes were listed along with the chances of winning: $1,000,000 (1 chance in 80,000,000), $100,000 (1 chance in
A magazine ran a sweepstakes in which prizes were listed along with the chances of winning: $1,000,000 (1 chance in
80,000,000),
$100,000 (1 chance in
130,000,000),
$25,000 (1 chance in
130,000,000),
$5,000 (1 chance in
35,667,000),
and $2,500 (1 chance in
26,500,000).
Assuming that there is no cost to enter the sweepstakes, find the expected value of the amount won for one entry.
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Get StartedRecommended Textbook for
Cambridge IGCSE And O Level Additional Mathematics Coursebook
Authors: Sue Pemberton
2nd Edition
1108411665, 9781108411660
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