Determine the lottery expected profit, Basic Statistics

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Determine the lottery expected profit

One state lottery has 1000 prizes of $1, 100 prizes of $10, 20 prizes of $75, 5 prizes of $275, 2 prizes of $1030, and 1 prize of $2400. Assume that 39000 lottery tickets are issued and sold for $1.

Determine the lottery's expected profit per ticket?

Determine the lottery's standard deviation of profit per ticket?

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Basic Statistics: Determine the lottery expected profit

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One state lottery has 1000 prizes of $1, 100 prizes of $10, 20 prizes of $75, 5 prizes of $275, 2 prizes of $1030, and 1 prize of $2400. Assume that 39000 lottery tickets are issued and sold for $1. Determine the lottery's expected profit per tick

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Basic Statistics: Determine the lottery expected profit

Reference No:- TGS0872089

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Recent Questions Asked Basic Statistics

Q : Questions regarding educational background

Q : Describe the number of fatalities

Q : Right isoceles triangle with vertecies

Q : Probability that the two discarded chips

Q : Determine the lottery expected profit

Q : Right isoceles triangle with vertecies

Q : Red die comes up upon number

Q : Basic model-intermediate model and deluxe model

Q : Length of life of oil-drilling bits

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Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: Determine the lottery expected profit

Reference No:- TGS0872089

Recent Questions Asked Basic Statistics

Q : Questions regarding educational background

Q : Describe the number of fatalities

Q : Right isoceles triangle with vertecies

Q : Probability that the two discarded chips

Q : Determine the lottery expected profit

Q : Right isoceles triangle with vertecies

Q : Red die comes up upon number

Q : Basic model-intermediate model and deluxe model

Q : Length of life of oil-drilling bits

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