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Question 2 5 pts In a lottery game, a player picks six numbers from 1 to 27. If the player matches all six numbers,
Question 2 5 pts In a lottery game, a player picks six numbers from 1 to 27. If the player matches all six numbers, they win $20,000 dollars. Otherwise, they lose $1. (Hint: There are 296,010 possible ways of choosing six numbers, and you want just the one winning combination.) What is the approximate expected value of this game? In the long run, you are expected to gain about $0.93. In the long run, you are expected to lose about $0.93. In the long run, you are expected to lose about $20,006.01. In the long run, you are expected to gain about $20,006.01. In the long run, you are expected to gain about $36.76. Question 3 5 pts Throughout the year, televisions go on sale which causes price to vary. On Black Friday there are special deals on High-Definition TVs. Best Buy is selling a TV for $459 that usually has a mean selling price of $549 with a standard deviation of $29. Target is selling a TV for $469 that usually has a mean selling price of $569 with a standard deviation of $23. Based on z-scores, which store is offering a better deal and why? Best Buy is offering a better deal since it's z-score is further above the mean than Target's z-score. Target is offering a better deal since it's z-score is further below the mean than Best Buy's z-score. Best Buy is offering a better deal since the price is lower than Target. Target is offering a better deal since it's z-score is further above the mean than Best Buy's z-score. Best Buy is offering a better deal since it's z-score is further below the mean than Target's z-score.
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