Compute the probability that you win the million-dollar prize if you purchase a single lottery ticket. Write your answer as a reduced fraction. PP(win) = A single lottery ticket costs $2. Compute the Expected Value, to the state, if 10,000 lottery tickets are sold. Round your answer to the nearest dollar. Answer: $ A single lottery ticket costs $2. Compute the Expected Value, to you, if you purchase 10,000 lottery tickets. Round your answer to the nearest dollar. Answer:
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
In a certain state's lottery, 40 balls numbered 1 through 40 are placed in a machine and eight of them are drawn at random. If the eight numbers drawn match the numbers that a player had chosen, the player wins $1,000,000. In this lottery, the order in which the numbers are drawn does not matter.
Compute the probability that you win the million-dollar prize if you purchase a single lottery ticket. Write your answer as a reduced fraction.
- PP(win) =
A single lottery ticket costs $2. Compute the
- Answer: $
A single lottery ticket costs $2. Compute the Expected Value, to you, if you purchase 10,000 lottery tickets. Round your answer to the nearest dollar.
- Answer:
Trending now
This is a popular solution!
Step by step
Solved in 4 steps