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What is expected value of mega million lottery ticket

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Reference no: EM133115924

Question - Assume the following facts is provided to you by Mega Millions:

Numbers Matched

Prize

Probability

5+1

500 Million

0.00000001%

4+1

$10,000

0.0001%

3+1

$200

0.01%

Required - What is the expected value of a $2 Mega Million lottery ticket?

A. $2

B. $0.08

C. $0.8

D. $0.5

Reference no: EM133115924

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