You buy a lottery ticket to a lottery that costs $10 per ticket. There are only 100 tickets available to be sold in this lottery. In this lottery there are one $450 prize, two $120 prizes, and four $30 prizes. Find your expected gain or loss. (Round your answer to two decimal places.)

Loss of $1.20

Step-by-step explanation:

The possible outcomes for this lottery and their probabilities are:

- a 1 in 100 chance of winning $450

- a 2 in 100 chance of winning $120

- a 4 in 100 chance of winning $30

- a 93 in 100 chance of losing $10

Therefore, the expected value of this lottery when buying one ticket is:

Therefore, you are expected to lose $1.2 per ticket.

see explanation

step-by-step explanation:

since the sequence is geometric there is a common ratio r between consecutive terms, that is

r = 4 ÷ - 2 = - 2

r = - 8 ÷ 4 = - 2

r = 16 ÷ 8 = - 2

the next term - 13 must be incorrect as it should be - 32 for the sequence to be geometric.

the first 4 terms are therefore geometric with common ratio r = - 2

what is the graph

step-by-step explanation: