Answer:
To find the expected value of the winnings, we need to multiply each possible payout by its corresponding probability and then add up the results. Mathematically, this can be expressed as:
Expected Value = (0)(0.67) + (1)(0.22) + (3)(0.07) + (9)(0.03) + (27)(0.01)
Expected Value = 0 + 0.22 + 0.21 + 0.27 + 0.27
Expected Value = 0.97
Therefore, the expected value of the winnings is $0.97. Rounded to the nearest hundredth, this is $0.97.