Question

in many state lotteries, you can pay $0.50 for a single lottery ticket consisting of 6 two - digit numbers between 01 and 60, inclusive. based on the results of a random drawing, the ticket may win any of the following prizes (including no prize), and the probability of winning each prize is shown below it. suppose that the jackpot is worth $1,000,000 this week. what is the expected value of the ticket - that is, what is the mean of the discrete random variable x?

Explanation:

Step1: Recall the formula for expected value

The formula for the expected value \( E(X)\) of a discrete random variable is \( E(X)=\sum_{i}x_{i}P(x_{i})\).

Step2: Substitute the values into the formula

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Answer:

C. $\$0.35$