Question: Expected value for the texas pick 3 game in the the texas pick 3 lottery, you can bet $1 by selecting three digits, each between

Expected value for the texas pick 3 game in the the texas pick 3 lottery, you can bet $1 by selecting three digits, each between 0 and 9 inclusive. If the same three numbers are drawn in the same order, you win and collect $50

a. how many different are possible?

b. what is the probability of winning?

c. if you win, what is net profit?

d. find the expected value?

e. if you bet $1 on the pass line in the casino dice game of craps the expected valume is -1.4. which bet is better : $1 bet in the texas pick 3 game or a $1 bet on the pass line in craps?

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