Mathematics, 21.02.2020 00:24 flowersthomas1969

One state lottery has 900 prizes of $1; 145 prizes of $10; 30 prizes of $60; 5 prizes of $325; 2 prizes of $1,110; and 1 prize of $2,800. Assume that 34,000 lottery tickets are issued and sold for $1.

a. What is the lottery's expected profit per ticket?
b. What is the lottery's standard deviation of profit per ticket?

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One state lottery has 900 prizes of $1; 145 prizes of $10; 30 prizes of $60; 5 prizes of $325; 2 pri...