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(Solved): In the New York State Numbers Lottery, you pay $1 and pick a number from 000 to 999. If your number ...



In the New York State Numbers Lottery, you pay $1 and pick a number from 000 to 999. If your number comes up, you win $700 , which is a profit of $699 . If you lose, you lose $1. Your probability of winning is 0.001 What is the expected value of your profit? Round the answer to two decimal places.



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