Lottery expected profit per ticket, Basic Statistics

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Lottery expected profit per ticket

One state lottery has 1000 prizes of $1, 120 prizes of $10, 20 prizes of $55, 5 prizes of $360, 2 prizes of $1150, and 1 prize of $2800. Suppose that 36000 lottery tickets are issued and sold for $1.

Determine the lottery's expected profit per ticket? (both rounded to 4 decimals)

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

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Basic Statistics: Lottery expected profit per ticket

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Basic Statistics: Lottery expected profit per ticket

Reference No:- TGS0872189

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Basic Statistics: Lottery expected profit per ticket

Reference No:- TGS0872189

Recent Questions Asked Basic Statistics

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