What is the lottery''s expected profit per ticket, Basic Statistics

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What is the lottery''s expected profit per ticket

One state lottery has 225 prizes of$1.00, 100 prizes of $5.00, 40 prizes of $25.00, 14 prizes of $100, 4 prizes of $350, & 1 prize of $1000. Assume that 15,000 lottery tickets are issued and sold for $1.00. What is the lottery's expected profit per ticket?

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Basic Statistics: What is the lottery''s expected profit per ticket

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Recent Questions Asked Basic Statistics

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Ask an Expert for Answer!!

Basic Statistics: What is the lottery''s expected profit per ticket

Reference No:- TGS0123590

Recent Questions Asked Basic Statistics

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