Lottery tickets · Expected value of discrete random variable

Average Expected Value and the Lottery : raskmath lottery expected value The expected value when you purchase a lottery ticket is -$, and the cost of the ticket is$ Determine the fair price of the lottery ticket lottery sambad 1ta In expected utility theory, a lottery is a discrete distribution of probability on a set of states of nature The elements of a lottery correspond to the

lottery result live today Your answer to question 2 should have mentioned that your calculation in question 1 did not take into account the probability of winning the lottery or that