A lottery, which costs $1.00 to enter, has a first prize of$1,000 a second prize

Question

A lottery, which costs $1.00 to enter, has a first prize of$1,000 a second prize of $500 and two third prizes of $100. Ifthere are 5,000 tickets sold, what is expected profit for eachlottery participant? a. $0.34 b. $0.98 c. $0.66 d. -$0.44 e. -$0.66 show all work! thanks! =) A lottery, which costs $1.00 to enter, has a first prize of$1,000 a second prize of $500 and two third prizes of $100. Ifthere are 5,000 tickets sold, what is expected profit for eachlottery participant? a. $0.34 b. $0.98 c. $0.66 d. -$0.44 e. -$0.66 show all work! thanks! =)

Explanation / Answer

What do the numbers for a., b., etc. represent?

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.