In a state\'s, pick 3 lottery game, you pay $1.26 to select a sequence of three
ID: 3179795 • Letter: I
Question
In a state's, pick 3 lottery game, you pay $1.26 to select a sequence of three digits (from 0 to 9), such as 622. If you select the same sequence of three digits that are drawn, you win and collect $352.34 Complete parts (a) through (e). What is the probability of winning? (Type an integer or a decimal.) If you win, what is your net profit? (Type an integer or a decimal.) Find the expected value. (Round to the nearest hundredth as needed.) If you bet $126 in a certain state's Pick 4 game, the expected value is - $0.91 Which bet is better, a $1 26 bet in the Pick 3 game or a $1.26 bet in the Pick 4 game? Explain. Neither bet is better because both games have the same expected value. The Pick 4 game is a better bet because it has a larger expected value. The Pick 3 game is a better bet because it has a larger expected value.Explanation / Answer
Since the expected values of both the games is same, Neither bet is better.
Option A is correct.