Four Numbers - Expected Value According to the Michigan Lottery the best odds of winning are when you pick four numbers. If all four numbers come up then you win $72 for each dollar you bet. If three numbers come up then you win $5 for each dollar you bet. If two numbers come up then you win $1 for every dollar you bet (net winnings are zero). Otherwise, you lose the money you bet.  Fill out the following table, assuming a $1 bet. Enter your probabilities as decimals, entering all the digits you see on your calculator.   Outcome Probability   Net Value (Don't forget to account for the $1 bet) Product (Round to 3 decimals) 4 correct     $   $   3 correct     $   $   2 correct     $   $   0 or 1 correct     $   $

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter6: Ratio, Proportion, And Probability
Section6.8: The Multiplication Principle
Problem 18E
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Four Numbers - Expected Value

According to the Michigan Lottery the best odds of winning are when you pick four numbers. If all four numbers come up then you win $72 for each dollar you bet. If three numbers come up then you win $5 for each dollar you bet. If two numbers come up then you win $1 for every dollar you bet (net winnings are zero). Otherwise, you lose the money you bet. 

Fill out the following table, assuming a $1 bet. Enter your probabilities as decimals, entering all the digits you see on your calculator.  

Outcome

Probability

 

Net Value

(Don't forget to account for the $1 bet)

Product

(Round to 3 decimals)

4 correct

 

 

$

 

$

 

3 correct

 

 

$

 

$

 

2 correct

 

 

$

 

$

 

0 or 1 correct

 

 

$

 

$

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