Answer:
The right answer is "1.6053".
Step-by-step explanation:
According to the question,
The expected value will be:
= [tex]-Cost \ of \ ticket+Probability \ of \ winning\times Winning \ amount[/tex]
As we know,
The probability of winning the lottery will be:
= [tex]\frac{1}{No. \ of \ ways \ of \ choose \ six \ from \ 40}[/tex]
So that, the expected value is:
= [tex]-1+\frac{10^7}{\binom{40}6}}[/tex]
= [tex]-1+\frac{10^7}{3838380}[/tex]
= [tex]1.6053[/tex]
