Lottery expected profit per ticket, Basic Statistics

Lottery expected profit per ticket

One state lottery has 1200 prizes of $1, 115 prizes of $10, 15 prizes of $70, 5 prizes of $305, 2 prizes of $1280, and 1 prize of $2300. Assume that 37000 lottery tickets are issued and sold for $1.

1. What is the lottery's expected profit per ticket?

2. What is the lottery's standard deviation profit per ticket?

Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: Lottery expected profit per ticket

Reference No:- TGS0748065

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Basic Statistics

Q : Merchandising business

Is the accounting system the same for a merchandising business and a service business? Explain.

Q : Find work output of the carnot heat engine

The work required by the heat pump is supplied entirely by a Carnot heat engine, which operates between a hot reservoir at 220 °C and a cold reservoir at the ambient temperature. Find work output of the Carnot heat engine.

Q : How many beams emerge from the second magnet

The portion of the separated beam corresponding to Sz =(+h bar/2) is then passed through a second identical magnet whose z axis is rotated by an angle theta with respect to the first magnet. (a) How many beams emerge from the second magnet?

Q : Calculate the efficiency of this procedure

A crate is pulled 2.0 m at constant velocity along a 15 degree incline. The coefficient of kinetic friction between the crate and the plane is 0.160. Calculate the efficiency of this procedure.

Q : Lottery expected profit per ticket

What is the lottery's expected profit per ticket? What is the lottery's standard deviation profit per ticket?

Q : Magnitude of the average acceleration of a skier

What is the magnitude of the average acceleration of a skier who, starting from rest, reaches a speed of 7.9 m/s when going down a slope for 7.4 s? How far does the skier travel in this time?

Q : Type of server per day

Spare servers are maintained in stock to support IT operations. A study determined that on average, there are four demands for this type of server per day. What is the probability that on a given day a spare server will be requested

Q : Quantitatively describe the trajectory of the electron

An electron initially traveling at a speed of 10^5m/s enters a region where there is a uniform magnetic field of 2T orientated 45 degrees to its initial velocity. Quantitatively describe the trajectory of the electron, including its path and its a

Q : Find angular momentum about the wheel axle for pebble

The radius of the tire is 8 in. What are the linear momentum relative to the wheel axle for the pebble in (gm*m)/s. What are the angular momentum about the wheel axle for the pebble?

1931933

Questions
Asked

3,689

Active Tutors

1427086

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: Lottery expected profit per ticket

Reference No:- TGS0748065

Have a Question? (oR Write a Review)

Recent Questions Asked Basic Statistics

Q : Merchandising business

Q : Find work output of the carnot heat engine

Q : How many beams emerge from the second magnet

Q : Calculate the efficiency of this procedure

Q : Lottery expected profit per ticket

Q : Magnitude of the average acceleration of a skier

Q : Type of server per day

Q : Quantitatively describe the trajectory of the electron

Q : Find angular momentum about the wheel axle for pebble

Discuss nurse is caring for a client who has herpes zoster

Discussion about youth worker at a community centre

Withdraw the correct dose of regular insulin

Discuss connection between calorie restriction and longevity

What if obtaining a series of specimens of occult blood

How to improve the health and well-being of the population

Treatment plan for adult client with alzheimers disease

Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: Lottery expected profit per ticket

Reference No:- TGS0748065

Recent Questions Asked Basic Statistics

Q : Merchandising business

Q : Find work output of the carnot heat engine

Q : How many beams emerge from the second magnet

Q : Calculate the efficiency of this procedure

Q : Lottery expected profit per ticket

Q : Magnitude of the average acceleration of a skier

Q : Type of server per day

Q : Quantitatively describe the trajectory of the electron

Q : Find angular momentum about the wheel axle for pebble

Asked Questions