WK2 - Homework

WK2 - Homework - WEEK 2 HOMEWORK E6-36. The payout for...

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1 WEEK 2 HOMEWORK E6-36. The payout for Powerball lottery and their corresponding odds and probabilities are shown below. The price of a ticket is $1.00. Find the mean and standard deviation of the payout. . Divisions Payout Odds Probability Five Plus Powerball $50,000,000 146,107,962 0.000000006844 Match 5 200,000 3,563,609 0.000000280614 Four Plus Powerball 10,000 584,432 0.000001711060 Match 4 100 14,255 0.000070145903 Three Plus Powerball 100 11,927 0.000083836351 Match 3 7 291 0.003424657534 Two Plus Powerball 7 745 0.001340482574 One Plus Powerball 4 127 0.007812500000 Zero Plus Powerball 3 69 0.014285714286 X M (X-M) (X-M)^2 $50,000,000.00 5578913.44 44421086.6 1973232931171010.00 200000.00 5578913.44 -5378913.4 28932709795012.60 10000.00 5578913.44 -5568913.4 31012796902212.60 100.00 5578913.44 -5578813.4 31123159398324.60 100.00 5578913.44 -5578813.4 31123159398324.60 7.00 5578913.44 -5578906.4 31124197066273.50 7.00 5578913.44 -5578906.4 31124197066273.50 4.00 5578913.44 -5578909.4
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This note was uploaded on 08/29/2011 for the course EC 315DLB taught by Professor Randallbarcus during the Fall '10 term at Park.

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WK2 - Homework - WEEK 2 HOMEWORK E6-36. The payout for...

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