NYS Lottery payoffs and probability question...How can we compute?
Payoff /Probability 2.00 /0.0500 25.00 /0.0100 100.00 /0.0050 500.00 /0.0010 5,000.00 /0.0005 10,000.00 /0.0001 What is the probability that you win at least 100.00?P(at least 100.00)= P(100)orP(500)orP(5000)orP(10000)
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