In the New York State Numbers Lottery, you pay $1 and can bet that the sum of the numbers that come up is 13. The probability of winning is 0.075, and if you win, you win $6.50, which is a profit of $5.50. If you lose, you lose $1. What is the expected value of your profit? Is it an expected gain or an expected loss?

The expected value of profit is -0.5125. This is expected loss as value is negative.        

Step-by-step explanation:

We are given the following in the question:

P(winning) = 0.075

Thus,

P(Loosing) =

If we win we gain a profit of $5.50 and if we loose the lottery, we loose $1.

Thus, we can form the probability distribution in the following manner:

  Event:      Winning       Loosing

Profit(x):      +5.50               -1

     P(x):       0.075             0.925

We have to calculate the expected value of the profit.

Thus, the expected value of profit is -0.5125. This is expected loss as value is negative.

c.

step-by-step explanation:

because first you have to add the 4x, 9x, and the 7x together and you get 20x and then you add the last numbers up and you get 5and then you put the subtraction sign in there and that's how you get the answer.

∈3,600

step-by-step explanation: