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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
Posted: Mon Nov 15, 2021 11:06 am
by answerhappygod
- 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 86 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?