In a state lottery a three digit integer is selected at random. A player bets $1 on a particular number and if that number is selected, the payoff is $500 minus the $1 paid for the ticket. Let X equal the payoff to the bettor, namely -$1 or $499, and find E(X).
That is the way the problem is worded. All problems in my text seem to be vague. Would the pribabilities actually be 999/1000 and 1/1000 since 0 0 0 would also be considered a three digit integer? This would then make E(X)=-1/2 rather than -.4995
Thank you for your help!