Mathematics, 08.10.2020 19:01 maddymaddy
Robert bought a $5 lottery ticket such that 1 in 100 would win $10, 1 in 1000 would win $100, and 1 in 50 million would win 1 million. What is the expected value of a lottery ticket in dollars?
Does Robert expect to earn a profit if he buys 100 tickets?
By how much?
Answers: 1
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Robert bought a $5 lottery ticket such that 1 in 100 would win $10, 1 in 1000 would win $100, and 1...
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