Odds. In Exercises 4346, answer the given questions that
Chapter 4, Problem 43(choose chapter or problem)
Odds. In Exercises 4346, answer the given questions that involve odds. Texas Pick 3 In the Texas Pick 3 lottery, you can bet $1 by selecting the exact order ofthree digits between 0 and 9 inclusive, so the probability of winning is 1>1000. If the samethree numbers are drawn in the same order, you collect $500, so your net profit is $499.a. Find the actual odds against winning.b. Find the payoff odds.c. The Web site www.txlottery.org indicates Odds 1:1000 for this bet. Is that description accurate?
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