(Solved): The chart below lists the actual prizes and probability of winning those prizes for one draw of a p ...

The chart below lists the actual prizes and probability of winning those prizes for one draw of a popular gov- ernment lottery. a) Based on these prize values and probabilities, calculate the expected prize value for a single ticket. b) It could be shown that over

of all persons who buy lottery tickets will never win either of the two largest prizes. Based on this fact, what is the expected return on a

ticket for the

of the players who will never win the largest prizes? c) Home research question: The lottery corporation states that

of all ticket sales are paid out as prizes. How do they manage to ensure that this happens?