Peter is thinking of playing the StarOne lottery. When he buys a ticket, he has to pick a single
letter from A to Z and a single digit from 0 to 9. He can win $700 if both his letter and the
digit match the letter and digit picked on that day. StarOne costs $3 per ticket.
9
What is the expected value per turn for Star One?
A.
-$0.13
B.
-$0.22
C.
-$0.31
D.
-$0.43

Question

Peter is thinking of playing the StarOne lottery. When he buys a ticket, he has to pick a single
letter from A to Z and a single digit from 0 to 9. He can win $700 if both his letter and the
digit match the letter and digit picked on that day. StarOne costs $3 per ticket.
9
What is the expected value per turn for Star One?
 A. 
-$0.13
 B. 
-$0.22
 C. 
-$0.31
 D. 
-$0.43

XShawtyX · Answer

To calculate the expected value per turn for the StarOne lottery, we can use the following formula:
Expected Value=(Probability of Winning×Payout)+(Probability of Losing×Cost of the Ticket)
Using that will help hella.
But The correct option is C. -$0.31.

quackers4life · Answer

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