Mathematics, 24.04.2020 20:30, dcdr57

1. New Jersey has a “Pick 3" lottery game in which you pick a three digit number between 000 and 999. If your
three digit number matches the winning number, you win $250. The price of a ticket for this lottery is $1.00.
Complete this probability distribution table:
Winnings
$250
$0
Probability
.001
Calculate the expected value for this game and decide whether it is worthwhile, in the long run, to play.

Answers: 3

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1. New Jersey has a “Pick 3" lottery game in which you pick a three digit number between 000 and 999...