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Using the lottery chart find the expected value of the lott.pdf

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Using the lottery chart, find the expected value of the lottery ticket. How much is it worth on average? (Don't put a $ sign, since that will make Blackboard upset.) Finally, consider the fact that the ticket costs $2. Find the net value of a lottery ticket. So final value proposition here is the mean value, the expected value. Think again about "The lottery is a tax on people who are bad at math'!Some say "the lottery is a tax on people who are bad at math." What do you think? Well, let's look at a real lottery. This is from the Mega Millions website*. Using the chart below, what is the probability of winning more than $100?.

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Using the lottery chart, find the expected value of the lottery ticket. How much is it worth on average? (Don't put a $ sign, since that will make Blackboard upset.) Finally, consider the fact that the ticket costs $2. Find the net value of a lottery ticket. So final value proposition here is the mean value, the expected value. Think again about "The lottery is a tax on people who are bad at math'!Some say "the lottery is a tax on people who are bad at math." What do you think? Well, let's look at a real lottery. This is from the Mega Millions website*. Using the chart below, what is the probability of winning more than $100?

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