One state lottery has 800 prizes of $1, 105 prizes of $10, 15 prizes of $65, 5 p
ID: 3440456 • Letter: O
Question
One state lottery has 800 prizes of $1, 105 prizes of $10, 15 prizes of $65, 5 prizes of $360, 2 prizes of $1150, and 1 prize of $2600. Assume that 37000 lottery tickets are issued and sold for $1.
1. What is the lottery's expected profit per ticket?
2. What is the lottery's standard deviation of profit per ticket?
Suppose a quiz has 9 multiple choice questions. Each question has 4 answer choices. If a student takes the quiz and randomly guesses on every question....
3. Find the probability the student gets between 1 and 6, exclusive, questions correct.
4. Find the probability the student gets more than 5 questions correct
Explanation / Answer
One state lottery has 800 prizes of $1, 105 prizes of $10, 15 prizes of $65, 5 p
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