Question: Eric and Patrick are two lottery players with different strategies. The lottery has numbers ranging from 0 99. A winning number is selected randomly from

Eric and Patrick are two lottery players with different strategies. The

Eric and Patrick are two lottery players with different strategies. The lottery has numbers ranging from 0 99. A winning number is selected randomly from that 100 numbers. Each lottery cost $8 and if the winning number is selected, that number wins $200. Eric buys 50 numbers independently and the numbers are selected from uniform probability. He may have duplicates as well. Patrick buys 50 lotteries of exact same number. 1.)What is the expected value and standard deviation for: a. Patrick's profit or loss? b. Eric's profit or loss? 2.)What is the probability: a. Eric's purchase of 50 lotteries of exact same number happens to have winning number. b. Patrick makes a profit c. Eric makes a profill *Please show step by step

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