A will be it I toook the test your wxlimensir have a good day
The expected value is just the weighted average of how much one ticket wins. To calculate it, we need to find the probabilities of winning each dollar amount, multiply each probability with it's respective dollar amount, then find the sum.
Let's call the winnings from one ticket X:
P(X=30) = 4000/2000000 = 0.002
P(X=800) = 500/2000000 = 0.00025
P(X=1200000) = 1/2000000 = 0.0000005
E(X) = 30*P(X=30) + 800*P(X=800) + 1200000*P(X=1200000) = 0.06 + 0.2 + 0.6 = 0.86
The answer is $0.86
Answer:
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