Refer to the following table regarding the game of keno.
outcome probability
9 winning spots 0.7243
8 winning spots 0.325925
7 winning spots 0.0005916784
6 winning spots 0.0057195580
5 winning spots 0.0326014806
fewer than 5 winning spots 0.9610539663
(a) find the expected value of a $1 bet in nine-spot keno if five winning spots pays $1 (but you pay $1 to play, so you actually break even), six winning spots pays $40 (but you pay $1 to play, so your profit is $39), seven pays $380, eight pays $6,000, and nine pays $20,000. (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.