Question
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?
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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?

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