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In a state's lottery, you can bet $4 by selecting three digits, each between 0 and 9 inclusive. If the same three numbers are drawn in the same order, you win and collect $700. Complete parts (a) through (e). a. How many different selections are possible? 1000 b. What is the probability of winning? 1 1000 (Simplify your answer.) c. If you win, what is your net profit? $ 696 (Type an integer or a decimal. Do not round.) d. Find the expected value for a $4 bet. (Type an integer or a decimal. Do not round.)

In a state's lottery, you can bet $4 by selecting three digits, each between 0 and 9 inclusive. If the same three numbers are drawn in the same order, you win and collect $700. Complete parts (a) through (e). a. How many different selections are possible? 1000 b. What is the probability of winning? 1 1000 (Simplify your answer.) c. If you win, what is your net profit? $ 696 (Type an integer or a decimal. Do not round.) d. Find the expected value for a $4 bet. (Type an integer or a decimal. Do not round.)

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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In a state's lottery, you can bet $4 by selecting three digits, each between 0 and 9 inclusive. If the same three numbers are drawn in the same order, you win and collect $700. Complete parts (a) through (e). a. How many different selections are possible? 1000 b. What is the probability of winning? 1 1000 (Simplify your answer.) c. If you win, what is your net profit? $ 696 (Type an integer or a decimal. Do not round.) d. Find the expected value for a $4 bet. (Type an integer or a decimal. Do not round.)
Transcribed Image Text:In a state's lottery, you can bet $4 by selecting three digits, each between 0 and 9 inclusive. If the same three numbers are drawn in the same order, you win and collect $700. Complete parts (a) through (e). a. How many different selections are possible? 1000 b. What is the probability of winning? 1 1000 (Simplify your answer.) c. If you win, what is your net profit? $ 696 (Type an integer or a decimal. Do not round.) d. Find the expected value for a $4 bet. (Type an integer or a decimal. Do not round.)
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