A lottery offers one $1000 prize, one $500 prize, and two $50 prizes. One thousand tickets are sold at $4.00 each. Find the expectation if a person buys one ticket. Create a probability distribution as part of your answer.
A lottery offers one $1000 prize, one $500 prize, and two $50 prizes. One thousand tickets are sold at $4.00 each. Find the expectation if a person buys one ticket. Create a probability distribution as part of your answer.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A lottery offers one $1000 prize, one $500 prize, and two $50 prizes. One thousand tickets are sold at $4.00 each. Find the expectation if a person buys one ticket.
Create a probability distribution as part of your answer.
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Thank you. Is the calculation correct for (50-4)2/1000 you said 1 there instead of 2
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