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
Posted: Mon Nov 15, 2021 11:06 am
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