Problem 6: In a certain lottery, the chance of winning on any one lottery ticket is 0.001. Suppose a person buys one ticket each day (except on a leap year day February 29) over a period of 40 years....

Extracted text: Problem 6: In a certain lottery, the chance of winning on any one lottery ticket is 0.001. Suppose a person buys one ticket each day (except on a leap year day February 29) over a period of 40 years. (a) What is the expected number E[T] of winning tickets in 40 years? (b) If each winning ticket is worth $1000, what is the expected amount E[R] collected on these winning tickets? (c) If each ticket costs $2, what is the expected net profit E[Q]?