Week 5: Expected value and Betting systems
Exercise 1: The probability to win at powerball have been computed in a previous ex- ... The expected amount paid back by the lottery for a bet depends on the jackpot. Today (March 1, 2013) the jackpot is $103 million with a cash value of $64.2 million. Compute your expected gain in the following three cases. 1.You take the cash value
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