Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. lottery in the new york state numbers lottery you

Lottery In the New York State Numbers lottery you pay 3 and can bet that...

70.2K

Verified Solution

Question

Statistics

image

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 09 and if you win you win 9 50 which is a profit of 6 5 If you lose you lose 3 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 2 15 Part 1 2 Part 2 of 2 b Is it an expected gain or an expected loss Round the answer to two decimal places This is an expected Choose one of S

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Consider an investment where 42 000 is invested for 10 years at 8 compounded continuously...

Basic Math
Q

Write a report (1000 words) on applications of various accountingstandards in an organisation’s /...

Accounting
Q

For the following situation identify the sampling method used. The Florida Fish and Wildlife Conservation Commission manatee mortality...

Basic Math
Q

What key elements have the biggest impact in human eye color and does modern biology give...

Biology
Q

prove that sign p=sign ^-p (if p is a permutation).

Advance Math
Q

Examine the diagram below O C fragmentation fission 1 soviel reproduction Process A Ciliates are...

Biology
Q

Next question You can retry this question below 6 18 Is college worth it Part...

Statistics
Q

Christina a javelin thrower has a sample throw mean of 62 3 meters from 29...

Statistics
Q

Find the second derivative for the following functions 1 f x xsin x 2 f...

Calculus
Q

Solve the following boundary value problem Ytt 25yxx 0 x 4 t 0 y 0...

Calculus
Q

R 4 2 24 R is the matrix of a linear transformation consisting of a...

Algebra
Q

Knight Corp., a lamp manufacturer, provided the...

Accounting