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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Definitions:

Professional Selling

Involves the act of promoting and selling products or services through skilled techniques and strategies.

Honesty

The quality of being truthful, transparent, and free from deceit or fraud in actions, expressions, and communications.

Premiums

High-quality or additional products offered as an incentive to promote a primary product or service.

Retailer's Store

A business establishment that sells goods directly to the public, typically from a physical location.