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lottery expected value

Section : Expected Value Example

lottery expected value

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lottery expected value

lottery expected value
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lottery expected value ***Step 2: Calculating Fair Price*** The fair price of the lottery ticket should be the cost of the ticket plus the expected value Since the  We use the notation E here to stand for the expected value of the random variable X: the mean profit per ticket is the value we expect to get, on average,  A lottery offers on $1000 prize, one $500 prize and five $100 prizes Seven hundred tickets are sold at $4 each Find the expected value of a ticket if a person

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