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August 23, 2014

Homework Help: Statistics

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

The local lottery sets up a game wherein a player has a chance of collecting $750.
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.

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