Question: Solve the problem that involves computing expected values in a game of chance. A numbers game run by many state governments allows a player to

Solve the problem that involves computing expected values in a game of chance. A numbers game run by many state governments allows a player to select a three-digit number from 000 to 999. There are 1000 such numbers. A bet of $16 is placed on a number. If the number is selected, the player wins $1,600. If any other number is selected, the player wins nothing. Find the expected value for the game.

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