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guapka [62]
3 years ago
7

Calculate the expected value of playing a lottery ticket game where each ticket costs $5, and the chance of having winning ticke

t is one in one million, and the payout for having a winning ticket is 4.9 billion dollars. Round the expected value to the nearest cent.
Mathematics
1 answer:
Amanda [17]3 years ago
6 0

Answer:

$4895

Step-by-step explanation:

P(winning) = 1 / 1000000 = 0.000001

P(not winning) = 1 - 1/1000000 = 0.999999

Winning amount = 4,900,000,000 - 5 = 4899999995

Amount lost = - 5

__ X: - 5 _________ 4899999995

P(X) : 0.999999 ___ 0.000001

Expected value E(x) = Σx * p(x)

E(x) = - 5(0.999999) + 4899999995(0.000001)

E(x) = - 4.999995 + 4899.999995

E(x) = 4895

Hence, expected value is 4895

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Answer:

f

(

x

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=

−

1

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+

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(

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k

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is

(

3

,

4

)

, so we can write:

f

(

x

)

=

a

(

x

−

3

)

2

+

4

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(

1

,

2

)

, we must have:

2

=

a

(

1

−

3

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2

+

4

=

4

a

+

4

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2

=

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a

Divide both sides by

4

and transpose to find:

a

=

−

1

2

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f

(

x

)

=

−

1

2

(

x

−

3

)

2

+

4

We can multiply this out and simplify as follows:

f

(

x

)

=

−

1

2

(

x

−

3

)

2

+

4

f

(

x

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=

−

1

2

(

x

2

−

6

x

+

9

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+

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f

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x

−

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2

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