# Stats

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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.

• Stats -

I will assume that the smallest 3 digit number is 100 and the largest 999, giving up 900 possible 3 digit numbers (999-99)

So the prob of picking the correct number is 1/900

the expected return is 1/900 * \$750 = \$0.83

So the expected loss per play is 17 cents.

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