score on last attempt: -0 out of 2 score in gradebook: 0 out of 2 Iry another si

Question

score on last attempt: -0 out of 2 score in gradebook: 0 out of 2 Iry another similar question, or select another question This question, with your last answer and correct answer, is displayed below In a lottery game, a player picks six numbers from 1 to 24. If the player matches all six numbers, they win 30,000 dollars. Otherwise, they lose $1. Hint: There are 134596 possible ways of choosing six numbers, and you want just the one winning combination. What is the expected value of this game? Preview Box 1: Enter your answer as a number (ike 5,-3, 2.2172) or as a calculation (like 5/3, 243, 5+4) Enter DNE for Does Not Exist, oo for Infinity Answer: -0.78 When you are done, click here to see a summary of your.scores

Explanation / Answer

P(Winning) = 1/134596

P(Loosing) = 1 - 1/134596 = 134595/134596

Hence,

Expected value of game

= 30000(1/134596) - 1(134595/134596)

= - 0.78

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

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