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Answer to Question #325124 in Statistics and Probability for shyna

Question #325124

In a certain Lottery Draw the prize was Php 10,000,000. If you bought 1 ticket that cost Php 20 and there were 1,000,000 tickets sold, what is your expected gain from buying one ticket? Will the organizers of the Lottery make a profit from the draw? Explain your answer.




GAIN




LOSS




OUTCOMES




PROBABILITY




PRODUCT

0
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