a. How many different selections are possible? 1,000 b. What is the probability of winning? 0.001 (Type an integer or a decimal.) c. If you win, what is your net profit? $ 271.98 (Type an integer or a decimal.) d. Find the expected value. $ - 0.59 (Round to the nearest hundredth as needed.) e. If you bet $0.86 in a certain state's Pick 4 game, the expected value is - $0.59. Which bet is better, a $0.86 bet in the Pick 3 game or a $0.86 bet in the Pick 4 game? Explain. O A. The Pick 3 game is a better bet because it has a larger expected value. B. The Pick 4 game is a better bet because it has a larger expected value. C. Neither bet is better because both games have the same expected value.
a. How many different selections are possible? 1,000 b. What is the probability of winning? 0.001 (Type an integer or a decimal.) c. If you win, what is your net profit? $ 271.98 (Type an integer or a decimal.) d. Find the expected value. $ - 0.59 (Round to the nearest hundredth as needed.) e. If you bet $0.86 in a certain state's Pick 4 game, the expected value is - $0.59. Which bet is better, a $0.86 bet in the Pick 3 game or a $0.86 bet in the Pick 4 game? Explain. O A. The Pick 3 game is a better bet because it has a larger expected value. B. The Pick 4 game is a better bet because it has a larger expected value. C. Neither bet is better because both games have the same expected value.
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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