   Chapter 8, Problem 48RE ### Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781305108042

#### Solutions

Chapter
Section ### Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781305108042
Textbook Problem

# Lotteries A state lottery pays $500 to anyone who selects the correct 3-digit number from a random drawing. If it costs$1 to play, then the probability distribution for the amount won is given in the table. What are the expected winnings of a person who plays? x Pr(x) -1 0.999 499 0.001

To determine

To calculate: The expected winnings of a person who plays if a state lottery pays $500 to anyone who selects the correct 3 –- digit number from a random drawing. If it costs$1 to play, then the probability distribution for the amount won is given in the table.

xPr(x)10.9994990.001

Explanation

Given Information:

A state lottery pays the amount $500 to anyone who select the correct 3-digit number from the random drawing. If the costs of play are$1, then the probability distribution for the amount won is provided in the table which is shown below,

xPr(x)10.9994990.001

Calculation:

The probability of lottery win is:

Pr(win)=0

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