Question
You are playing the lottery. The ticket costs $15. The grand prize is $25,000. The second prize is $10,000. The third prize is $2,500. There
You are playing the lottery. The ticket costs $15. The grand prize is $25,000. The second prize is $10,000. The third prize is $2,500. There are 100,000 tickets sold. One person cannot win more than one prize. What is the expected value of the lottery?
a. $0.38
b. - $14.87
c. $0.24
d. - $0.67
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Critical Issues In Mathematics Education Monograph Series In Mathematics Education
Authors: Paul Ernest, Brian Greer, Bharath Sriraman
1st Edition
1607522187, 9781607522188
