A lottery has a grand prize jackpot worth 70 million dollars. The chance of winning from purchasing a single ticket is 1 in 32700000. a) What is the expected value of winning from a single ticket? (Round your answer to the nearest cent.) The expected value of winning is: dollars b) Would it be worth to buy a ticket for 1 dollar?

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section: Chapter Questions
Problem 41CT: On a game show, a contestant is given the digits 3, 4, and 5 to arrange in the proper order to form...
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A lottery has a grand prize jackpot worth 70 million dollars. The chance of winning from purchasing a single ticket is 1 in 32700000. a) What is the expected value of winning from a single ticket? (Round your answer to the nearest cent.) The expected value of winning is: dollars b) Would it be worth to buy a ticket for 1 dollar?

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