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In a game of one-spot Keno, a card is purchased for $2.00. It allows a player to choose one number from 1 to 80. The
In a game of one-spot Keno, a card is purchased for $2.00. It allows a player to choose one number from 1 to 80. The dealer then chooses twenty numbers at random from 1 to 80. If the player's number is among the numbers chosen by the dealer then the player is paid $3.00, but does not get to keep the $2.00 paid to play the game. What is the expected value of buying one card? The expected value of buying one card is
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