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Expected Value Calculation Table for Problem #2 - based on a $20,000,000 jackpot. Event Net Profit/Loss, x Probability, p(x) x * p(x) 5 white balls
Expected Value Calculation Table for Problem #2 - based on a $20,000,000 jackpot.
| Event | Net Profit/Loss, x | Probability, p(x) | x * p(x) |
| 5 white balls + Powerball | $19,999,998 | .00000000342 | .0684 |
| 5 white balls | .0000000856 | ||
| 4 white balls + Powerball | .00000110 | ||
| 4 white balls | $98 | .0000274 | |
| 3 white balls + Powerball | .0000690 | ||
| 3 white balls | .00172 | .0086 | |
| 2 white balls + Powerball | .00142 | ||
| 1 white ball + Powerball | .0109 | ||
| Powerball | .026 | ||
| Lose | |||
| Sum of x*p(x) = E.V. |
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Understandable Statistics Concepts And Methods
Authors: Charles Henry Brase, Corrinne Pellillo Brase
9th Edition
0618986928, 978-0618986927
