lottery

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 (-$1 or $499). How do you find E(X)?

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Originally Posted by laser

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 (-$1 or $499). How do you find E(X)?

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Asked and answered here: http://www.mathhelpforum.com/math-he...-find-e-x.html

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