Expected Value - Definition and examples

expected value of lottery ticket
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Take each prize, subtract the price of our ticket, multiply the net return by the probability of winning, and add all those values to get our

With this, we can calculate the expected value of a scratch card, or how much money we can expect to win from a single card, on average: ( *

expected value of lottery ticket Answer · Final answer: The fair price of the lottery ticket in a system where the expected value is -$ and ticket cost is $, would be

colorado lottery ticket checker Suppose that in a lottery for charity with 225 tickets, each ticket costs $1 First prize is $50, second prize $30, and third prize is $20 Then the possible