The chance of winning a lottery game is 1 in approximately 24 million. suppose you buy a $1 lottery ticket in anticipation of winning the $4 million grand prize. calculate your expected net winnings for this single ticket. interpret the result.

The expected net winning for a single ticket = $0.8333

Step-by-step explanation:

The chance of winning a lottery game is 1/24000000

Suppose a $1 lottery ticket is bought in anticipation to win $4000000, the grand price for buying $1 is

4000000*1/24000000

= 1/6

= $0.1667

After paying for $1 for the ticket, the net winning is $0.1667 - $1

= -$0.8333

= -$0.8(to the nearest tenth)

This means that on the average, you will loose $0.8 for every ticket you buy. The lottery commission makes over $0.8 on every ticket sold.

The fair price of a lottery ticket is $0.17.

14.3

step-by-step explanation:

add all the numbers together.

9 + 12 + 15 + 16 + 17 + 17 = 86

now, divide 86 by how many numbers we have: 6.

86 / 6 = 14.3

for this pair of functions g(x)=x-2 and f(x)=|x| is (g o f)(a)= |a| -2

step-by-step explanation:

g(x)=x-2

f(x)=|x|

(g o f)(a)=?

(g o f)(x)=g(f(x))

(g o f)(x)=g(|x|)

(g o f)(x)=|x|-2

(g o f)(a)=|a|-2