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 $3 (but you pay $1 to play, so your profit is $2), five pays $110, and six pays $2,300. (round your answer to two decimal places.)
$
(b) interpret the expected value.
for a large number of plays, you should expect to lose about $ (enter a positive value) for every dollar you bet.