Question

200 lottery tickets are sold for $6 each. The person with the single winning ticket will get $71. What is the expected value for a ticket in this lottery?

Answer 1

Answer: the expected value is. aroud 1-2

Explanation:

Answer 2

Given:

200 lottery tickets are sold for $6 each.

The person with the single winning ticket will get $71.

So, The probability of winning = 1/200

The probability of losing =