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Find the expected value of a $1 bet in six-spot keno if three winning spots pays $1 (but you pay $1 to play, so you
Find the expected value of a $1 bet in six-spot keno if three winning spots pays $1 (but you pay $1 to play, so you actually break even), four winning spots pays $5 (but you pay $1 to play, so you profit $4), five pays $130, and six pays $2,350. (Use the probabilities from the table below. Round your answer to two decimal places.)
Outcome Probability
6 winning spots 0.00012898
5 winning spots 0.00309564
4 winning spots 0.02853792
3 winning spots 0.12981955
Fewer than 3 winning spots 0.83841791
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