For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities

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For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) below

k(cash prize. $ )    Grand prize 200,000 10,000 100   7    4    3    0

P(x)                       0.00000000764     0.00000019    0.000001787    0.000143787 0.004859191       0.006351519 0.01781606       0.97082745836

(a) If the grand prize is $13,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from one ticket? The expected cash prize is SRound to the nearest cent as needed.) What is the correct interpretation of the expected cash prize?

A. You will win $0.28 on every lottery ticket. On average,

B. you will win $0.28 per lottery ticket. On average,

C. you will profit $0.28 per lottery ticket.

The expected profit from one $1 ticket is $

(b) To the nearest million, how much should the grand prize be so that you can expect a profit? Assume nobody else wins so that you do not have to share the grand prize

(c) Does the size of the grand prize affect your chance of winning? Explain.

A.  No, because the expected profit is always $0 no matter what the grand prize is.

B. No because vour chance of winninn is determined by the properties of the Iottery not the payouts.

C. Yes, your expected profit increases as the profit prize increases.