Question

Question Help In a state's Pick 3 lottery game you pay 50 83 to select a sequence of three digits (from 0 to 9), such as 922. If you select the same sequence of three digits that are drawn, you win and collect $286.53 Complete parts (a) through (e). b. What is the probability of winning? 0.001 (Type an integer or a decimal) c. If you win, what is your net profit? S285.70 (Type an integer or a decimal) d. Find the expected value S-0.54 (Round to the nearest hundredth as needed.) e. If you bet 50.83 in a certain state's Pick 4 game the expected value is - 50.54. Which bet is better. a $0 83 bet in the Pick 3 game or a 50.83 bet in the Pick 4 game? Explain O A The Pick 3 game is a better bet because it has a larger expected value OB. Neither bet is better because both games have the same expected value C. The Pick 4 game is a better bet because it has a larger expected value 1 Click to select your answers

Answer 1

specific sequence draw lottery game you need corgo numbers room threee digit 103 drawn = can be tartal nubess a if win there is we only one way hence cike 922 theace is only to win p( winnings. 1000 O'001 Net profit Pair amounts winning amount 286.53 - O'83 2 285.7 Expected value > Net Profit P(winning paid amound xP(loosing) 2857x +60183)x ggg O: 2857 » 0.82917 054

Its given the art in states Pick h the game expected value is - $0.54 value Also we found that the expeched 40.56 is also for Pick 3 lottery gamee expected both s the same has the game none the other then loss then is be Her option is corred