One state lottery has 1,100 prizes of $1; 140 prizes of $10; 25 prizes of $60; 5 prizes of $290; 2 prizes of $1,080; and 1 prize of $2,800. Assume that 21,000 lottery tickets are issued and sold for $1. Question 3 What is the lottery's expected profit per ticket? Question 4 What is the lottery's standard deviation of profit per ticket?
One state lottery has 1,100 prizes of $1; 140 prizes of $10; 25 prizes of $60; 5 prizes of $290; 2 prizes of $1,080; and 1 prize of $2,800. Assume that 21,000 lottery tickets are issued and sold for $1. Question 3 What is the lottery's expected profit per ticket? Question 4 What 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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