Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribed

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

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_2

Step: 3

blur-text-image_3

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

Elementary Statistics

Authors: Neil A. Weiss

8th Edition

321691237, 978-0321691231

More Books

Students also viewed these Mathematics questions