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For a multistate lottery, the following probability distribution x (cash prize, $) P(x) represents the cash prizes of the lottery with their corresponding Grand prize
For a multistate lottery, the following probability distribution x (cash prize, $) P(x) represents the cash prizes of the lottery with their corresponding Grand prize 0.00000000824 probabilities. Complete parts (a) through (d) below. 200,000 0.00000022 10,000 0.000001749 100 0.000178318 7 0.003991773 4 0.008815861 3 0.01360407 0 0.97340800076 (a) If the grand prize is $12,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from one ticket? The expected cash prize is $ (Round to the nearest cent as needed.)
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