Answered


1. Total spending in the US on lotteries in 2017 was about $75 billion. Given a US Population of 325
million of which 23% are under age 18, and the fact that about half of American adults play the
lottery in any given year, about how much does the average American spend on lotteries each
year?

Answer :

MRROYALGO

Based on the statistics, an average American spends $299.7 on lotteries each year

How to determine the amount an American spend on lotteries?

The population is given as:

Population = 325 million

23% are under the age of 18.

This means that this category is not eligible to play lotteries.

The eligible population is:

Eligible = (1 - 23%) * 325 million

Evaluate

Eligible = 250.25 million

The total amount is given as:

Total = $75 billion

So, the amount spent by each is:

Amount = Total/Eligible

This gives

Amount = $75 billion/250.25 million

Evaluate

Amount = $299.7

Hence, an average American spends $299.7 on lotteries each year

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