Develop the probability distribution


A ticket for statewide lottery costs $1. With probability 0.0000001, you win million dollars ($1,000,000), and with probability 0.9999999 you win nothing. Let y denote the winnings from buying one ticket. Develop the probability distribution for y. Show that the mean of the distribution equals 0.10, corresponding to an expected return of 10 cents for the dollar paid.

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Basic Statistics: Develop the probability distribution
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