3. (8 marks) A lottery has a $1 000 000 first prize, a $50 000 second prize, and two $2000 third prizes. A total of 2 00

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3. (8 marks) A lottery has a $1 000 000 first prize, a $50 000 second prize, and two $2000 third prizes. A total of 2 00

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3 8 Marks A Lottery Has A 1 000 000 First Prize A 50 000 Second Prize And Two 2000 Third Prizes A Total Of 2 00 1
3 8 Marks A Lottery Has A 1 000 000 First Prize A 50 000 Second Prize And Two 2000 Third Prizes A Total Of 2 00 1 (25.26 KiB) Viewed 85 times
3. (8 marks) A lottery has a $1 000 000 first prize, a $50 000 second prize, and two $2000 third prizes. A total of 2 000 000 tickets are sold. a) What is the probability of winning a prize in this lottery when a ticket is purchased? Sooooo b) If a ticket costs $5.00, what is the expected profit per ticket for the lottery company?
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