In astate's lottery, you can bet $2 by selecting threedigits, each between 0 and 9 inclusive. If the same three numbers are drawn in the sameorder, you win and collect $700. Complete parts(a) through(e).

a. How many different selections arepossible?

b. What is the probability ofwinning?

(Simplify youranswer.)

c. If youwin, what is your netprofit?

$

(Type an integer or a decimal. Do notround.)

d. Find the expected value for a $2 bet.

$(Type an integer or a decimal. Do notround.)

If you bet $2 on a certain casinogame, the expected value is 3.2. Which bet is better in the sense of producing a higher expectedvalue: a $2 bet on thestate's lottery or a $2 bet on the casinogame? Explain.

A.

The casino game is a better bet because it has a larger expected value.

B.

Thestate's lottery is a better bet because it has a larger expected value.

C.

It is impossible to compare the values because they have different units.

D.

Neither bet is better because both games have the same expected value.