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 any money is ________.

Question

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 any money is ________.

Quizplus · Accepted Answer

The Answer of 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 any money is ________.

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

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