Lottery: In the New York State Numbers lottery, you pay $1 and can bet that the sum of the numbers that come up is 13. The probability of winning is 0.055, and if you win, you win $10, which is a profit of $9. If you lose, you lose $1.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.5: Interpreting Data
Problem 9E
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Lottery: In the New York State Numbers lottery, you pay $1 and can bet that the sum of the numbers that come up is 13. The
probability of winning is 0.055, and if you win, you win $10, which is a profit of $9. If you lose, you lose $1.
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
Transcribed Image Text:Lottery: In the New York State Numbers lottery, you pay $1 and can bet that the sum of the numbers that come up is 13. The probability of winning is 0.055, and if you win, you win $10, which is a profit of $9. If you lose, you lose $1. 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
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