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One state lottery game has contestants select 5 different numbers from 1 to 45. The prize if all numbers are matched is 2 million dollars.The
One state lottery game has contestants select 5 different numbers from 1 to 45. The prize if all numbers are matched is 2 million dollars.The tickets are $2 each.
2) In fair games, the expected value will be $0.This means that if the game is played many...many times, then one is expected to break even eventually.This is never true for Casino and Lottery games.Find the expected value of x = the amount won/lost when purchasing one ticket.
3) Interpret the expected value.
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