Find the Expected Value

question 93

Multiple Choice

Find the expected value.
-Suppose you buy 1 ticket for $1 out of a lottery of 1000 tickets where the prize for the one winning ticket is to be $10,000. What is your expected value?

• A)$90.00
• B)$0.90
• C)$9.00
• D)-$0.90

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Definitions:

Water Potential

A measure of the potential energy in water, influencing the direction in which water will move, often used in the study of plant physiology.

Vertically

In a direction or way that aligns or relates to the top and bottom or head and foot, typically in reference to genetics, to indicate transmission of traits from parent to offspring.

Water

A transparent, tasteless, odorless, and nearly colorless chemical substance, which is the main constituent of Earth's hydrosphere and the fluids of most living organisms.

Sucrose

A disaccharide sugar composed of glucose and fructose, commonly known as table sugar and found naturally in plants.