Lottery Prizes A lottery offers one $800 prize, two $500 prizes, two $400 prizes, and five $200 prizes. One thousand tickets are

Question

Lottery Prizes A lottery offers one $800 prize, two $500 prizes, two $400 prizes, and five $200 prizes. One thousand tickets are sold at $7 each. Find the expectation if a person buys two tickets. Assume that the player's ticket is replaced after each draw and that the same ticket can win more than one prize. Round to two decimal places for currency problems.

Kunduz · Accepted Answer

Click to see the answer