Statistics and Probability

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.

  1. 👍
  2. 👎
  3. 👁
  1. the outcome that you will receive is .25 and the "box" will keep .75 for every dollar you put in

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Probability and statistics

    A mysterious card-playing squirrel (pictured) offers you the opportunity to join in his game. The rules are: To play you must pay him $2. If you pick a spade from a shuffled pack, you win $9. Find the expected value you win (or

  2. mathematics

    Pick a two-digit number greater than 25. Rewrite your two-digit number as a difference of two numbers. Show how to use the identity (x − y)^2 = x^2 − 2xy + y^2 to square your number without using a calculator.

  3. Mathematics some do something

    The sum of the digits of a 3-digit number is three times the sum of the digits of a 2-digit number. When the 2-digit number is subtracted from the 3-digit number it gave another 2-digit number of which its first digit is three

  4. Mathematics

    The sum of the digits of a 3-digit number is three times the sum of the digits of a 2-digit number. When the 2-digit number is subtracted from the 3-digit number it gave another 2-digit number of which its first digit is three

  1. math help!

    A lottery game asks you to pick 5 numbers from the set 1, 2, 3, ... , 29, 30. How many ways are there to play this lottery game? (Assume that this is a game where the order of your picks does NOT matter.) A) 27,405 B) 84,825 C)

  2. Mathematics:help me please anyone

    The sum of the digits of a 3-digit number is three times the sum of the digits of a 2-digit number. When the 2-digit number is subtracted from the 3-digit number it gave another 2-digit number of which its first digit is three

  3. Mathematics

    The sum of the digits of a 3-digit number is three times the sum of the digits of a 2-digit number. When the 2-digit number is subtracted from the 3-digit number it gave another 2-digit number of which its first digit is three

  4. math

    I have 2 questions that i need help on, please help! Thank you and God bless you. 1. A shoebox holds a number of disks of the same size. There are 5 red, 6 white, and 7 blue disks. You pick out a disk, record its color, and return

  1. MATH FOR LIBERAL ARTS

    Determine a casino's expected net income from a 24-hour period at a single roulette table if the casino's total overhead for the table is $50 per hour and if customers place a total of $7,000 on single-number bets, $4,000 on

  2. math

    How many 4 digit codes (0-9) no repetition and 5 has to be the first digit. 1 x 9 x 8 x7 first digit =5 one choice now 9 digits left. Right? Now I am stuck. First digit has to be 5 can have repetition, but same number cannot be

  3. math

    need help with math word problems. just don't understand. What is the number? you have a four digit number where the thousands digit is four greater than the hundreds digit.The tens digit is twice the thousands digit. The ones

  4. Math

    Take a four digit number (abcd) and repeat it to make an eight digit number (abcdabcd). This eight-digit number always has at least three different prime factors, unless you start with a certain four-digit number. Which number is

You can view more similar questions or ask a new question.