Order the answer to: An officer of the state…
| Question | An officer of the state lottery commission sampled lottery ticket purchasers over a 1-week period at one location. The amounts distributed back to the purchasers and the associated probabilities for 5000 tickets are as follows: (a) Plot the cumulative distribution of winnings. (b) Calculate the expected value of the distribution of dollars per ticket. (c) If tickets cost $2, what is the expected long-term income to the state per ticket, based upon thissample? |
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| Subject | business-economics |
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