Homework: HW 5.2 Save Score: 0.4 of 1 pt 14 of 15 (4 complete) HW Score: 12.11%,
ID: 3210351 • Letter: H
Question
Homework: HW 5.2 Save Score: 0.4 of 1 pt 14 of 15 (4 complete) HW Score: 12.11%, 1.82 of 15 pts 5.2.23 Question Help In a state's Pick 3 lottery game, you pay $1.02 to select a sequence of three digits (from 0 to 9), such as 800. If you select the same sequence of three digits that are drawn, you win and collect $260.08. Complete parts (a) through (e). a. How many different selections are possible? 1000 b. What is the probability of winning? 0001 (Type an integer or a decimal.) c. If you win, what is your net profit? s (Type an integer or a decimal.)Explanation / Answer
a) numbers can range from 000 to 999. So there are 1000 possible combinations for a selection.
b) probability of winning= 1 out of 1000
= 1/1000=0.001
c) since he is paying $1.02 for selecting a sequence and if he win he gets $260.08.
So net profit if he wins is $260.08-$1.02=$259.06.
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