Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please Answer the question below MR. GHISELLI'S SUPER MEGA-POWERFUL LOTTO I am going to sell lottery tickets for $1 each. On each ticket, you will

Please Answer the question below

image text in transcribed MR. GHISELLI'S SUPER MEGA-POWERFUL LOTTO I am going to sell lottery tickets for $1 each. On each ticket, you will select five numbers from 1 to 50, inclusive, with no repetition and a Super Number from 1 to 30, inclusive. On the day of the drawing, I will draw five numbers from 1 to 50 and a Super Number from 1 to 30. Your prize, if any, will be determined by how many numbers you match. The prize schedule is below. Match Prize 5 of 5 + Super $5,000,000 5 of 5 $150,000 Any 4 of 5 + Super $15,000 Any 4 of 5 $500 Any 3 of 5 + Super $300 Any 3 of 5 $9 Any 2 of 5 + Super $20 Any 1 of 5 + Super $3 Super $1 Based on the information, answer the questions below. Assume all ticket purchases and number selections are independent. 1. Let the random variable x represent your net winnings. Construct a probability distribution for x. (Some of the probabilities will be very small, so leave them in fraction form.) 2. What is the expected value for one ticket purchased? (Round to the nearest cent.) 3. If you buy one ticket, what is the probability you will win a prize? 4. If I sell 1,000,000 tickets, how much money can I expect to make? (Round to the nearest cent.) 5. If I sell 1,000,000 tickets, what is the probability (round to four decimal places) a. nobody wins the $5,000,000. b. exactly one person wins the $5,000,000. c. at least one person wins the $5,000,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Prealgebra

Authors: Elayn Martin Gay

7th edition

321955048, 978-0321955043

More Books

Students also viewed these Mathematics questions

Question

\f

Answered: 1 week ago

Question

At the generating station power is..........?

Answered: 1 week ago

Question

The maximum number of electrons in a shell can be?

Answered: 1 week ago

Question

True or false The entire human population shows variations?

Answered: 1 week ago

Question

National park in India?

Answered: 1 week ago

Question

How did the guard ant recognise this ant ?

Answered: 1 week ago