Krinkles potato chips is having a "Lucky Seven Sweepstakes." The one grand prize is $70,000; 7 second prizes each pay $7,000; 77 third prizes each pay $700; and 777 fourth prizes each pay $70. What is the expectation of this contest, if there are 9 million entries?
A) $0.05
B) $0.86
C) $0.03
D) $0.25
E) $0.01

Question

Krinkles potato chips is having a "Lucky Seven Sweepstakes." The one grand prize is $70,000; 7 second prizes each pay $7,000; 77 third prizes each pay $700; and 777 fourth prizes each pay $70. What is the expectation of this contest, if there are 9 million entries? ​
A) $0.05
B) $0.86
C) $0.03
D) $0.25
E) $0.01

Quizplus · Accepted Answer

The Answer of Krinkles potato chips is having a "Lucky Seven Sweepstakes." The one grand prize is $70,000; 7 second prizes each pay $7,000; 77 third prizes each pay $700; and 777 fourth prizes each pay $70. What is the expectation of this contest, if there are 9 million entries? ​
A) $0.05
B) $0.86
C) $0.03
D) $0.25
E) $0.01

Krinkles Potato Chips Is Having a "Lucky Seven Sweepstakes