Business, 02.03.2020 20:35, spazzinchicago
"3. In a state’s Pick 3 lottery game, you pay $1.34 to select a sequence of three digits (from 0 to 9), such as 900. If you select the same sequence of three digits that are drawn, you win and collect $ 279.56. a. How many different selections are possible? b. What is the probability of winning? c. If you win, what is your net profit? d. Find the expected value. e. If you bet, $1.34 in a certain state’s Pick 4 game, the expected value is -$ 1.06. Which is better, a $ 1.34 bet in the Pick 3 game or $ 1.34 bet in the Pick 4 game?"
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"3. In a state’s Pick 3 lottery game, you pay $1.34 to select a sequence of three digits (from 0 to...
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