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Lottery: In the New York State Numbers lottery, you pay $3 and can bet that the sum of the numbers that come up is 13. The probability of winning is 0.085, and if you win, you win $7.50, which is a profit of $4.5. If you lose, you lose $3. Part: 0/2 Part 1 of 2 (a) What is the expected value of your profit? Round the answer to two decimal places. The expected value of profit is x 5

Lottery: In the New York State Numbers lottery, you pay $3 and can bet that the sum of the numbers that come up is 13. The probability of winning is 0.085, and if you win, you win $7.50, which is a profit of $4.5. If you lose, you lose $3. Part: 0/2 Part 1 of 2 (a) What is the expected value of your profit? Round the answer to two decimal places. The expected value of profit is x 5

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section: Chapter Questions
Problem 72RE
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Lottery: In the New York State Numbers lottery, you pay $3 and can bet that the sum of the numbers that come up is 13. The probability of winning is 0.085, and if you win, you win $7.50, which is a profit of $4.5. If you lose, you lose $3. Part: 0/2 Part 1 of 2 (a) What is the expected value of your profit? Round the answer to two decimal places. The expected value of profit is X 5
Transcribed Image Text:Lottery: In the New York State Numbers lottery, you pay $3 and can bet that the sum of the numbers that come up is 13. The probability of winning is 0.085, and if you win, you win $7.50, which is a profit of $4.5. If you lose, you lose $3. Part: 0/2 Part 1 of 2 (a) What is the expected value of your profit? Round the answer to two decimal places. The expected value of profit is X 5
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