A. How many different selections are possible?
B. What is the probability of winning?
C. If you win, what is your net profit?
D. Find the expected value
Answer :
A. sequence of three digits (from 0 to 9). so 10 numbers.
We know 3 lottery games. So possible selections = 10^3 = 1000
B. Probability of winning = one outcome / total outcomes
P( winning) =
= 0.001
c. Net profit = winning amount - paid amount
= 384.13 - 1.33 = $382.8
D. expected value
E(x) = net profit * winning probability - paid amount * lost probability
E(x) = 382.8 * 0.001 - 1.33 * 0.999 = -0.95
you expect to lose 95 cents per ticket.
Answer: £14.94
Step-by-step explanation:
36 cartons at £1.56 for 4 = 14.04
2 cartons at £45p = 0.90
Answer:
-400
Step-by-step explanation:
20 + 14 + 8 + ... + (-70) =
= (-6·1+26)+(-6·2+26)+(-6·3+26)+...+(-6·16+26) =
= -6·(1+2+3+...+16)+26·16 =
= -6·16·17/2+26·16 =
= -6·8·17+26·16 =
= -816+416 =
= -400