Instruction 4 You Buy a Single Ticket

question 109

Short Answer

Instruction 4.7
A lottery will have the following payoffs possible with their associated probabilities.
$$\begin{array} { | l | l | } \hline \text { Payoff } & \text { Probsbility } \\\hline \$ 2.00 & 0.0500 \\\hline \$ 25.00 & 0.0100 \\\hline \$ 100.00 & 0.0050 \\\hline \$ 500.00 & 0.0010 \\\hline \$ 5,000.00 & 0.0005 \\\hline \$ 10.000 .00 & 0.0001 \\\hline\end{array}$$ You buy a single ticket.
-Referring to Instruction 4.7,if you have a winning ticket,the probability that you win at least $100.00 is _____________ .

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Definitions:

Period Costs

Expenses directly tied to a specific time period, such as rent, utilities, and administrative salaries, and not directly to the production process.

Units Sold

The number of individual items that have been sold over a specified period.

Period Costs

Costs that are not directly related to the manufacturing process and are charged as expenses in the period they arise.

Units Sold

The total quantity of a company's product that was sold during a specified period.