In a state's Pick 3 lottery game, you pay $1.29 to select a sequence of three digits (from 0 to 9), such as 433. If you select the same sequence of three digits that are drawn, you win and collect $274.03. Complete parts (a) through (e). Question content area bottom Part 1 a. How many different selections are possible? 10001000 Part 2 b. What is the probability of winning? 0.0010.001 (Type an integer or a decimal.) Part 3 c. If you win, what is your net profit? $272.74272.74 (Type an integer or a decimal.) Part 4 d. Find the expected value. $enter your response here (Round to the nearest hundredth as needed.)
In a state's Pick 3 lottery game, you pay $1.29 to select a sequence of three digits (from 0 to 9), such as 433. If you select the same sequence of three digits that are drawn, you win and collect $274.03. Complete parts (a) through (e). Question content area bottom Part 1 a. How many different selections are possible? 10001000 Part 2 b. What is the probability of winning? 0.0010.001 (Type an integer or a decimal.) Part 3 c. If you win, what is your net profit? $272.74272.74 (Type an integer or a decimal.) Part 4 d. Find the expected value. $enter your response here (Round to the nearest hundredth as needed.)
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
$1.29
to select a sequence of three digits (from 0 to 9), such as
433.
If you select the same sequence of three digits that are drawn, you win and collect
$274.03.
Complete parts (a) through (e).Question content area bottom
Part 1
a. How many different selections are possible?
10001000
Part 2
b. What is the probability of winning?
0.0010.001
(Type an integer or a decimal.)Part 3
c. If you win, what is your net profit?
$272.74272.74
(Type an integer or a decimal.)Part 4
d. Find the expected value .
$enter your response here
(Round to the nearest hundredth as needed.)Expert Solution
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