Question

New Jersey has a six-way combination lottery game in which you pick three digits (each can be any of 0, 1, 2,c, 9) and you win if the digits the lottery picks are the same as yours in any of the six possible orders. For a dollar bet, a winner receives $45.50. Two possible strategies are (a) to pick three different digits, or (b) to pick the same digit three times. Let X = winnings for a single bet.
a. Find the probability distribution of X and its mean for strategy a.
b. Find the probability distribution of X and its mean for strategy b.
c. Which is the better strategy? Why?


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  • CreatedSeptember 11, 2015
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