erigio98 erigio98

24-05-2023
Mathematics

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Ten thousand US$10 lottery tickets are sold. One ticket wins a prize of US$5000, five tickets each win US$1000, and ten tickets each win US$200. Find:
a) The probability of winning each prize in the lottery
b) The expected gain from one ticket
c) the price of a ticket to make the lottery a fair game

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