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For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c)
For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) below. x (cash prize, $) Grand prize P(x) 0.00000000504 200,000 10,000 0.00000012 0.000001686 100 0.000148622 7 0.004959544 4 0.006178738 3 0 0.01820095 0.97051033496 (a) If the grand prize is $17,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from one ticket? (Round to the nearest cent as needed.) The expected cash prize is $
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