Lottery In the New York State Numbers lottery you pay 3 and

Last updated: 12/12/2022

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 The probability of winning is 0 09 and if you win you win 9 50 which is a profit of 6 5 If you lose you lose 3 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 2 15 Part 1 2 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 Choose one of S