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July 23, 2014

July 23, 2014

Posted by **Andrew** on Sunday, April 27, 2008 at 11:00pm.

The player must choose a 3-digit number and if it matches, the player receives $750

It costs $1 to play the game.

What is the expected profit (or loss) for each player.

- Statistics -
**PsyDAG**, Monday, April 28, 2008 at 10:15amSince each number varies from 0-9, there is 1/10 chance in matching each number. The probability of all events occurring is found by multiplying the probability of the individual events = (1/10)^3.

Do you think you can take it from here?

I hope this helps. Thanks for asking.

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