In a game of one-spot Keno, a card is purchased for $2.00. It allows a player to choose one number from 1 to 80. The dealer then chooses twenty numbers at random from 1 to 80. If the player's number is among the numbers chosen by the dealer then the player is paid $3.60, but does not get to keep the $2.00 paid to play the game. What is the expected value of buying one card? The expected value of buying one card ?

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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In a game of one-spot Keno, a card is purchased for $2.00. It allows a player to choose one number from 1 to 80. The dealer then chooses twenty numbers at random from 1 to 80. If the player's number is among the numbers chosen by the dealer then the player is paid $3.60, but does not get to keep the $2.00 paid to play the game.

What is the expected value of buying one card?

The expected value of buying one card ?

 

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