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Mathematics, 23.12.2019 17:31 love6155
You get one lottery ticket that will 5% of the time pay out $5, will 10% of the time pay out $10, and will 85% of the time pay out $1. 2. you get two lottery tickets, a and b. ticket a will pay $5 half of the time and $0 otherwise. ticket b will pay double your winnings from ticket a half of the time; otherwise ticket b pays $1. calculate the expected value (expected payout) of both scenarios. which would you prefer? explain why.
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You get one lottery ticket that will 5% of the time pay out $5, will 10% of the time pay out $10, an...
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