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3) A state lottery picks 6 numbers ranging from 1 - 59 and pays off $1,000,000...

3) A state lottery picks 6 numbers ranging from 1 - 59 and pays off $1,000,000 on a $1 bet. What is the expected value of this game assuming that matching all six numbers is the ONLY way to win at the game.


4) With a wager of $1, a card is drawn from a standard deck of cards. The game pays off $104 if an ace is drawn, $26 if a face card is drawn, $13 if the 8 of hearts is drawn and results in the loss of $1 if any other card is selected. What is the expected value of the game?

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