Answered step by step
Verified Expert Solution
Question
1 Approved Answer
QUESTION 5. 1 POINT A lottery drawing of 6 numbers between 1 and 49 offers the following payout amounts and respective probabilities. What is
QUESTION 5. 1 POINT A lottery drawing of 6 numbers between 1 and 49 offers the following payout amounts and respective probabilities. What is the expected payout of the game? Round your answer to the nearest cent. Provide your answer below: Numbers Payout Picked Probability Amount Correctly 1 0.5274 $0 2 0.3465 $0 3 0.1 $5 4 0.02 $50 5 0.006 $15,000 10 6 0.0001 $1,000,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started