The expected value when you purchase a lottery ticket is -$2

expected value of lottery ticket
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#### Final Answer The expected value of winning for a single ticket is $ If you buy 10 tickets per week, you can expect to win or lose $5

The expected value in lotteries represents the average amount one might expect to win per ticket It is calculated by multiplying the prize Expected value is one of the useful probability concept we will discuss It has many applications, from insurance policies to making financial decisions,

club slot There is another way to compute expected value without imagining what would happen if we play every possible space There are 38 possible This means that 50 cents would be a fair price for a ticket to play this lottery Of course, such a lottery would make no money for the state, which is why most