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Computing the Mean of Distribution.

If a lottery ticket has a grand prize of $25 million then the probability of winning is .000000042.

On the basis of expected value of the lottery ticket would you pay $1 for a ticket? Round your answer to 3 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)

The expected winning is $6

Statistics and Probability, Statistics

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  • Reference No.:- M921209

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