Question

b) what are your expected winnings? round final answer to 2 decimal places. put correct units in the second box. -0.79 c) which of the following is the correct interpretation of the expected winnings? select an answer if you play the ohio lottery many times, you can expect to win -0.79 dollars per game every time you play the ohio lottery you will lose every time you play the ohio lottery you will win -0.79 dollars

Explanation:

Step1: Recall expected - value concept

The expected value of a discrete - random variable represents the long - term average outcome. In the context of lottery winnings, an expected value of - 0.79 means that on average, a player will lose 0.79 dollars per game over many plays.

Step2: Interpret the result

Since the expected value is negative, it indicates that, on average, players will lose money. Each time you play the Ohio lottery, on average, you expect to lose 0.79 dollars.

Answer:

b) The expected winnings are - 0.79 dollars. This means that on average, each time you play the Ohio lottery, you will lose 0.79 dollars. So over many plays, you can expect to win - 0.79 dollars per game.