What is the lotterys expected profit per ticket what is the

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Reference no: EM13606862

A state lottery has:

1100 prizes of $1

145 prizes of $10

25 prizes of $65

5 prizes of $290

2 prizes of $1290

& 1 prize of $2300.

Assuming 37,000 lottery tickets were sold at $1 each,

A) What is the lottery's expected profit per ticket?

B) What is the lottery's standard deviation of profit per ticket?

Reference no: EM13606862

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