My answers
1) .6742 = 1*(1/11) + 2*(1/11) + 10*(1/56) + 25*(1/401) + 50*(1/401) + 100*(1/89144) + x*(1/520001)
.6742 = .6394529 + x/520001
x = (.6742 - .6394529) * 520001
x = $18068.53
2) 1/5.5 - 1/11 = 2/11 - 1/11 = 1/11 or 10:1
3) Hmmm....do you have to solve one first? Since we know the EV (given in 1) and the odds of getting a payout greater than zero (given in 2), can't we solve it based on that information, like this...
(4.5/5.5)*0 + (1/5.5)*x = .6742
x = $3.708
-- Homer
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