#### (Solved): % 6.1.31 Is Question Help For A Multistate Lottery, The Following Probability Distribution Represent ...

% 6.1.31 Is Question Help For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) below. (cash prize S) Grand prize 200,000 10,000 100 Pix 0.00000000593 0.00000025 0.000001546 0.000134528 O 005631511 0.007972744 .01740151 0.96885790507 4 3 0 0 (a) If the grand prize is \$13,000,000, find and interpret the expected cash prize. If a ticket costs 51, what is your expected profit from one ticket? The expected cash prize is \$ 0.28 (Round to the nearest cent as needed.) What is the correct interpretation of the expected cash prize? O A. On average, you will profit 50 28 per lottery ticket B. On average, you will win \$0 28 per lottery ticket OC. You will win 50 28 on every lottery ticket The expected profit from one 51 ticket is \$ -0.72 (b) To the nearest million, how much should the grand prize be so that you can expect a profit? Assume nobody else wins so that you do not have to share the grand prize