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?

Question

asked Jul 8, 2023 78.2k views

2 Answers

JohnnyJP · Answer 1 · 2023-07-12T17:24:36+0000

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 =