Mathematics, 23.05.2020 07:59 KenzieD6032

For many years, organized crime ran a numbers game that is now run legally by many state governments. The player selects a three-digit number from 000 to 999. There are 1000 such numbers. A bet of $ 2 is placed on a number, say number 115. If the number is selected, the player wins $600. If any other number is selected, the player wins nothing. Find the expected value for this game and describe what this means.

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For many years, organized crime ran a numbers game that is now run legally by many state governments...