One state lottery has 1,100 prizes of $1; 115 prizes of $10; 25 prizes of $65; 5 prizes of $280; 2 prizes of $1,260; and 1 prize of $2,500. Assume that 33,000 lottery tickets are issued and sold for $1 Question 3What is the lottery's expected profit per ticket? Question 4What is the lottery's standard deviation of profit per ticket?
One state lottery has 1,100 prizes of $1; 115 prizes of $10; 25 prizes of $65; 5 prizes of $280; 2 prizes of $1,260; and 1 prize of $2,500. Assume that 33,000 lottery tickets are issued and sold for $1 Question 3What is the lottery's expected profit per ticket? Question 4What is the lottery's standard deviation of profit per ticket?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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