elementary math for teachers
posted by jen .
Numbers is a game where you bet $1 on any three-digit number from 000 to 999. If your number
comes up, you get $600.00, otherwise you lose the $1. Find your expected winnings if all numbers
are equally likely to come up.
there are 1000 numbers from 000 to 999
so the prob of any one coming up is 1/1000
the expected winning = 1/1000(600) = .60 or 60¢.
(not smart to play that game)