(a) Find the mean, variance, and standard deviation. (b) How many times would you expect to have to play the lottery before winning? It costs $1 to play and winners are paid $500. Would you expect to make or lose money playing this lottery? Explain.
(a) Find the mean, variance, and standard deviation. (b) How many times would you expect to have to play the lottery before winning? It costs $1 to play and winners are paid $500. Would you expect to make or lose money playing this lottery? Explain.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 20PPS
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Question
A daily number lottery chooses three balls numbered 0 to 9. The probability of winning the lottery is
1/1000. Let x be the number of times you play the lottery before winning the first time.
(a) Find the mean , variance, and standard deviation. (b) How many times would you expect to have to play the lottery before winning? It costs $1 to play and winners are paid
$500. Would you expect to make or lose money playing this lottery? Explain.
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