Question: Please explain Is it an expected gain er an expected Ease? Round the answer to two decimal places. (a) What is the expected value of

Please explain Is it an expected gain er an expected Ease? Round the answer to two decimal places. (a) What is the expected

Please explain

value of your profit? Round the answer to two decimal places. The

expected value of profit isLottery: In the New York State Numbers lottery,

you pay $2 and can bet that the sum of the numbers

Is it an expected gain er an expected Ease? Round the answer to two decimal places. (a) What is the expected value of your profit? Round the answer to two decimal places. The expected value of profit isLottery: In the New York State Numbers lottery, you pay $2 and can bet that the sum of the numbers that come up is 13. The probability of winning is 0.065, and if you win, you win $7, which is a profit of $5. If you lose, you lose $2

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