One state lottery has 1000 prizes of $1, 110 prizes of $10, 25 prizes of $55, 5 prizes of $315, 2 prizes of $1240,

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June 7th, 2024

One state lottery has 1000 prizes of $1, 110 prizes of $10, 25 prizes of $55, 5 prizes of $315, 2 prizes of $1240, and 1 prize of $2500. Assume that 35000 lottery tickets are issued and sold for $1.1. What is the lottery’s expected profit per ticket?2. What is the lottery’s standard deviation of profit per ticket?

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