Is it an expected gain or an expected loss? Round the answer to two decimal places. 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. Theprobability 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 1 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 $gainloss

Here We will use Table for the Expected value

Answered: (b) Is it an expected gain or an…

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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(b) Is it an expected gain or an expected loss? Round the answer to two decimal places. This is an expected (Choose one) v of $ gain loss