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October 20, 2014

Homework Help: Statistics and Probability

Posted by Laura on Monday, December 13, 2010 at 9:30pm.

The Tri-State Pick 3 lottery game offers a choice of several bets. You choosea three-digit number. The lottery commision announces the winning three-digit number, chosen at random, at the end of each day. The "box" pays $83.33 if the number you choose has the same digits as the winning number, in any order; Find the expected payoff for a $1 bet on the box. (Assume that you chose a number having three different digits.

I have tried this problem many times and cannot get the right answer.

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