Asked by rick
a state of indiana lotto ticket pays winners $0, $5, $25, and $200 with probabilities of 0.94, 0.03, 0.02, and 0.01 respectivley. the expected value of this ticket is
Answers
Answered by
MathGuru
Multiply each payout by its respective probability, then add for a total. This will be the expected value.
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