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(a) What is the expected value of your profit? Rou

(a) What is the expected value of your profit? Rou

MATLAB: An Introduction with Applications
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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What is the expected value of your profit? Round the answer to two decimal places. The answer is not 4020.
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 $6.50, which is a profit of $3.5. 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
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 $6.50, which is a profit of $3.5. 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
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