Question
Im not sure if I'm correct in my answers, please explain if they are wrong, thx lottery has 900 prizes of $1, 140 prizes of
Im not sure if I'm correct in my answers, please explain if they are wrong, thx
lottery has 900 prizes of $1, 140 prizes of $10, 30 prizes of $65, 5 prizes of $290, 2 prizes of $1170, and 1 prize of $2700. Assume that 30,000 lottery tickets are issued and sold for $1.
what is the lottery expected profit per ticket? i got 0.642
what is the lottery standard deviation of profit per ticket? 18.77212
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Linear Algebra and Its Applications
Authors: David C. Lay
4th edition
321791541, 978-0321388834, 978-0321791542
