In a certain state's Pick 3 lottery game, you pay $1.45 to select a sequence of three digits (from 0 to 9), such as 811. If you select the same sequence of three digits that are drawn, you win and collect $ 480.92. Complete parts (a) through
In a certain state's Pick 3 lottery game, you pay $1.45 to select a sequence of three digits (from 0 to 9), such as 811. If you select the same sequence of three digits that are drawn, you win and collect $ 480.92. Complete parts (a) through
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter14: Counting And Probability
Section14.CR: Chapter Review
Problem 5CC: a What is meant by an experiment? Sample space? b What is an event? c Define the probability of an...
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In a certain state's Pick 3 lottery game, you pay $1.45 to select a sequence of three digits (from 0 to 9), such as 811. If you select the same sequence of three digits that are drawn, you win and collect $ 480.92. Complete parts (a) through (e)
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In a state's Pick 3 lottery game, you pay $1.45 to select a sequence of three digits (from 0 to 9), such as 811. If you select the same sequence of three digits that are drawn, you win and collect $480.92. Complete parts (a) through (e).
ck
a. How many different selections are possible?
b. What is the probability of winning?
(Type an integer or a decimal.)
c. If you win, what is your net profit?
(Type an integer or a decimal.)
d. Find the expected value.
$(Round to the nearest hundredth as needed.)
e. If you bet $1.45 in a certain state's Pick 4 game, the expected value is - $0.97. Which bet is better, a $1.45 bet in the Pick 3 game or a $1.45 bet in the Pick 4 game? Explain.
A. Neither bet is better because both games have the same expected value.
OB. The Pick 3 game is a better bet because it has a larger expected value.
OC. The Pick 4 game is a better bet because it has a larger expected value.
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In a state's Pick 3 lottery game, you pay $1.45 to select a sequence of three digits (from 0 to 9), such as 811. If you select the same sequence of three digits that are drawn, you win and collect $480.92. Complete parts (a) through (e).
ck
a. How many different selections are possible?
b. What is the probability of winning?
(Type an integer or a decimal.)
c. If you win, what is your net profit?
(Type an integer or a decimal.)
d. Find the expected value.
$(Round to the nearest hundredth as needed.)
e. If you bet $1.45 in a certain state's Pick 4 game, the expected value is - $0.97. Which bet is better, a $1.45 bet in the Pick 3 game or a $1.45 bet in the Pick 4 game? Explain.
A. Neither bet is better because both games have the same expected value.
OB. The Pick 3 game is a better bet because it has a larger expected value.
OC. The Pick 4 game is a better bet because it has a larger expected value.
esc
ntrol
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