Instruction 4-7
a Lottery Will Have the Following Payoffs Possible

question 59

Short Answer

Instruction 4-7
A lottery will have the following payoffs possible with their associated probabilities.
$$\begin{array} { r c } { \text { Payoff } } & \text { Probability } \\\hline\$ 200 & 0.0500 \\\$ 25.00 & 0.0100 \\\$ 100.00 & 0.0050 \\\$ 500.00 & 0.0010 \\\$ 5,000.00 & 0.0005 \\\$ 10,000.00 & 0.0001\end{array}$$ You buy a single ticket.
-Referring to Instruction 4-7,the probability that you win at least $100.00 is ________.

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