Purchase Solution

A lottery has one $2000 prize, two $1000 prizes............

Not what you're looking for?

Ask Custom Question

I need help in figuring out how to do this math problem. I've worked on the equation multiple times and can't seem to figure it out.
The question again is:

A lottery has one $2000 prize, two $1000 prizes, and ten $500 prizes. Two thousand tickets are sold at $5 each. Find the expectation if a person buys two tickets.

Purchase this Solution
Solution Summary

All the answers are given complete step by step. Grab the solution and enjoy the learning.

Solution Preview

Dear student,

Please find the solution below.

Hope this helps. ...

Purchase this Solution
Free BrainMass Quizzes
Probability Quiz

Some questions on probability

Multiplying Complex Numbers

This is a short quiz to check your understanding of multiplication of complex numbers in rectangular form.

Geometry - Real Life Application Problems

Understanding of how geometry applies to in real-world contexts

Know Your Linear Equations

Each question is a choice-summary multiple choice question that will present you with a linear equation and then make 4 statements about that equation. You must determine which of the 4 statements are true (if any) in regards to the equation.

Solving quadratic inequalities

This quiz test you on how well you are familiar with solving quadratic inequalities.

View More Free Quizzes
Related BrainMass Solutions

  • Expected Value

    Out of the 3 million tickets, 12,006 are drawn at random and without replacement and awarded prizes: twelve thousand $25 prizes, four $10,000 prizes, one $50,000 prize, and one $200,000 prize.

  • expected prize

    429606 expected prize value One thousand raffle tickets are sold for $5.00 each. One grand prize of $800 and two consolation prizes of $100 each will be awarded. Jeremy purchases one ticket. Find his expected value. Show your work for full credit.

  • Statistics : Probability of Winning a Powerball Lottery

    The Probability of Winning a Powerball Lottery is investigated. The solution is detailed and well presented.

  • Discrete Probability Distributions

    A lottery offers one $1000 prize, one $500 prize, and five $100 prizes. One thousand tickets are sold at $3 each. Find the expectation if a person buys two tickets.

  • Introduction to Probability Distributions

    The prizes are being awarded based on a blind drawing with the following probability distribution: x P(x) $ 10 0.80 $ 20 0.10 $ 100 0.08 $ 1000 0.02 a What is the expected prize award?

  • Expected Value of Lottery Ticket

    319969 Expected Value of Lottery Ticket You are considering paying $5 to buy a ticket in a local lottery. You were told that 10,000 tickets will be sold. There are 5 prizes.

  • Statistics - Permutations

    The first prize is one million dollars, the second prize is one hundred thousands dollars, and the third prize is ten thousand dollars.

  • Powerball lottery probabilities

    264176 Powerball lottery probabilities Powerball is a lottery game in which 5 white balls are chosen from a drum containing 55 balls and one red ball is chosen from a drum containing 42 balls. to win the jackpot, a player must match all 5 white balls

  • Statistics - Others - Permutations

    The first prize is one million dollars, the second prize is one hundred thousands dollars, and the third prize is ten thousand dollars. Use the permutations rule to determine the total number of different ways the winners can be drawn.

View More Related Solutions