Question: Stats 119... Please provide explanation for my future notes. :) In a state's Pick 3 lottery game, you pay $0.97 to select a sequence of

Stats 119... Please provide explanation for my future notes. :)

In a state's Pick 3 lottery game, you pay $0.97 to select a sequence of three digits (from 0 to 9), such as 933. If you select the same sequence of three digits that are drawn, you win and collect $349.07. Complete parts (a) through (e). a. How many different selections are possible? b. What is the probability of winning? (Type an integer or a decimal.) c. If you win, what is your net profit? $(Type an integer or a decimal.) d. Find the expected value. $(Round to the nearest hundredth as needed.) e. If you bet $0.97 in a certain state's Pick 4 game, the expected value is - $0.62. Which bet is better, a $0.97 bet in the Pick 3 game or a $0.97 bet in the Pick 4 game? Explain. O A. Neither bet is better because both games have the same expected value. O B. The Pick 3 game is a better bet because it has a larger expected value. O C. The Pick 4 game is a better bet because it has a larger expected value

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