Question
In: Statistics and Probability
Suppose Sam bought 1 ticket of CA SupperLotto. The details of how to play and how...
Suppose Sam bought 1 ticket of CA SupperLotto. The details of how to play and how to win is listed in the two tables below.
Let’s use X to denote the net gain from 1 ticket.
Net gain is defined by Net Gain = Prize (if any) – Cost
Find the expected value of X.
How to Play
Pick 5 different numbers between 1 and 47
Pick 1 Mega numbers between 1 and 27
Cost per ticket $1
| Matched Numbers | Prize |
| 5+ Mega | $20,000,000 |
| 5 |
$28,677.00 |
| 4+Mega | $1,433.00 |
| 4 | $97.00 |
| 3+Mega | $57.00 |
| 3 | $10.00 |
| 2+Mega | $11.00 |
| 1+Mega | $2.00 |
| Mega | $1.00 |
Solutions
orchestra answered 3 years agoRelated Solutions
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