Refer to the following table regarding the game of keno. 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 (a) 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 $4 (but you pay $1 to play, so your profit is $3), five pays $120, and six pays $2,700. (Round your answer to two decimal places.) LA (b) Interpret the expected value. For a large number of plays, you should expect to --Select-- ~ about $ (enter a positive value) for every dollar you bet. Need Help? Read It Watch It