"3. In a state’s Pick 3 lottery game, you pay $1.34 to select a sequence of three digits (from 0 to 9), such as 900. If you select the same sequence of three digits that are drawn, you win and collect $ 279.56. a. How many different selections are possible? b. What is the probability of winning? c. If you win, what is your net profit? d. Find the expected value. e. If you bet, $1.34 in a certain state’s Pick 4 game, the expected value is -$ 1.06. Which is better, a $ 1.34 bet in the Pick 3 game or $ 1.34 bet in the Pick 4 game?"

scenario: hawaii and south carolina are trading partners. hawaii has an absolute advantage in the production of both coffee and tea. the opportunity cost of producing 1 pound of tea in hawaii is 2 pounds of coffee, and the opportunity cost of producing 1 pound of tea in south carolina is 1/3 pound of coffee. which of the following statements is true? a. south carolina should specialize in the production of both tea and coffee. b. hawaii should specialize in the production of tea, whereas south carolina should specialize in the production of coffee. c. hawaii should specialize in the production of coffee, whereas south carolina should specialize in the production of tea. d. hawaii should specialize in the production of both tea and coffee.