document.write( "Question 1076597: 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 $1000. If any other number is selected, the player wins nothing. Find the expected value for this game and describe what this means.\r
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Algebra.Com's Answer #691219 by Boreal(15235) $\"\"$ $\"About$

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E(x)=1000*(1/1000)-2(999/1000)=$1-$1.998=-$0.998, assuming that if one wins, he gets the money back that was originally spent on the ticket. If not, then the cost of the ticket makes the expected value-$1. \n" ); document.write( "

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