A $2 Powerball lottery ticket has a 1/27.05 probability of winning $4, a 1/317.39 probability of winning
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A $2 Powerball lottery ticket has a 1/27.05 probability of winning $4, a 1/317.39 probability of winning $7, a 1/10,376.47 probability of winning $100, a 1/913,129.18 probability of winning $50,000, a 1/11,688,053.52 probability of winning $1,000,000, and a 1/292,201,338 probability of winning the Grand Prize. If the Grand Prize is currently $100,000,000, what is the expected value of a single Powerball lottery ticket?
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Finite Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780134862620
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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