   Chapter 9.8, Problem 14ES ### Discrete Mathematics With Applicat...

5th Edition
EPP + 1 other
ISBN: 9781337694193

#### Solutions

Chapter
Section ### Discrete Mathematics With Applicat...

5th Edition
EPP + 1 other
ISBN: 9781337694193
Textbook Problem
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# A lottery game offers $2 million to the grand prize winner,$20 to each of 10,000 second prize winners, and $4 to each of 50,000 third prize winners, The cost of the lottery is$2 per ticket. Suppose that 1.5million tickets are sold. What is the expected gain or loss of a ticket?

To determine

The expected gain or loss of a ticket.

Explanation

Given information:

A lottery game offers $2 million to the grand prize winner,$20 to each of 10,000 second prize winner, and $4 to each of 50,000 third prize winner. Lotter ticket cost is$2 per ticket.

1.5 million tickets are sold.

Calculation:

The net gain of the grand prize winner is $20000002=$1999998.

The net gain of each of 10,000 second prize winner is $202=$18

The net gain of each of 50,000 third prize winner is $42=$2

Since 1.5 million tickets are sold.

Number of people who do not gain anything is 150000011000050000=1439,999

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