Lottery: In the New York State Numbers Lottery, you pay $1 and pick a number from 000 to 999. If your number comes up, you win $900, which is a profit of $899. If you lose, you lose $1. Your probability of winning is 0.001. 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 X Ś

Lottery: In the New York State Numbers Lottery, you pay $1 and pick a number from 000 to 999. If your number comes up, you win $900, which is a profit of $899. If you lose, you lose $1. Your probability of winning is 0.001. 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 X Ś

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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Question

Lottery: In the New York State Numbers Lottery, you pay $1 and pick a number from 000 to 999. If your number comes up, you win $900, which is a profit
of $899. If you lose, you lose $1. Your probability of winning is 0.001.
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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Part 2 of 2
(b) Is it an expected gain or an expected loss? Round the answer to two decimal places.
This is an expected
gain/loss
of S

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