themicx themicx

15-09-2022
Mathematics

Answered

PLEASE HELP ASAP
For many years, organized crime ran a numbers game that is now run legally by many state governments. The player
selects a three-digit number from 000 to 999. There are 1000 such numbers. A bet of $1 is placed on a number, say number 115. If the number is selected, the player wins $400. If any other number is selected, the player wins nothing.
Find the expected value for this game and describe what this means.
The expected value of the numbers game is $__
(Round to the nearest cent.)

Answer :

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