In a state\'s Pick 3 lottery game, you pay $1.19 to select a sequence of three d
ID: 2945736 • Letter: I
Question
In a state's Pick 3 lottery game, you pay $1.19 to select a sequence of three digits (from 0 to 9), such as 244. If you select the same sequence of three digits that are drawn, you win and collect $394.92. Complete parts (a) through (e). a. How many different selections are possible? b. What is the probability of winning? Type an integer or a decimal) C. If you win, what is your net profit? s(Type an integer or a decimal) d. Find the expected value. (Round to the nearest hundredth as needed) e. If you bet $1.19 in a certain state's Pick 4 game, the expected value is -$o 80 Vhich bet is better a s1 19 betin the Pick 3 game or a 51 19 bet in he Pick 4 game? Explain Click to select your answer(s)Explanation / Answer
a)total number of outcome =10*10*10=1000
b) probability of winning =1/1000=0.001
c)net profit=394.92-1.19=393.73
d)expected value =394.92*0.001-1.19=-0.80
e)
option A is correct