Multiple Choice
In a lottery, you pay $1 and pick a number from 000 to 999. If your number comes up, you win $350, which is a profit of $349. If you lose, you lose $1. Your probability of winning is 0.001.
What is the expected value of your profit?
A) $0.349
B) -$0.65
C) $2.50
D) $0.65
Correct Answer:
Verified
Correct Answer:
Verified
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