Answered: a. How many different selections are… | bartleby

MATLAB: An Introduction with Applications

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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In a state's Pick 3 lottery game, you pay $ 1.41 to select a
sequence of three digits (from 0 to 9), such as 311. If you
select the same sequence of three digits that are drawn, you
win and collect $ 497.48. Complete parts (a) through (e).
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 in a certain state's Pick 4 game, the expected value
is. Which bet is better, a $ bet in the Pick 3 game or a bet in the
Pick 4 game? Explain.

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