Moe plays a simplified version of powerball: You either win the entire jackpot of $500,000,000 or you lose the cost to play

Question

Moe plays a simplified version of powerball: You either win the entire jackpot of $500,000,000 or you lose the cost to play (i.e., $2). The probability of winning powerball is 1 out of 292,201,338 (the probability of losing is thus 1-
1- 1/292,201,338).What is the expected value of playing this version of powerball?

Kunduz · Accepted Answer

Click to see the answer