In a state's Pick 3 lottery game, you pay $1.18 to select a sequence of three digits (from 0 to 9), such as 711. If you select the same sequence of three digits that is drawn, you win and collect $391.69. Complete parts (a) through (e).
a. How many different selections are possible?
b. What is the probability of winning?
(Type an integer or a decimal.)
c. If you win, what is your net profit?
d. Find the expected value. (Round to the nearest hundredth as needed.)
e. If you bet $1.18 in a certain state's Pick 4 game, the expected value is -$0.79. Which bet is better, a $1.18 bet in the Pick 3 game or a $1.18 bet in the Pick 4 game? Explain.