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(Solved) (5-2) In New Jersey’s Pick 4 lottery game, you pay $0.50 to select a sequence of four digits, such as 7273. If you win by selecting the same sequence

Question: (5-2) In New Jersey’s Pick 4 lottery game, you pay $0.50 to select a sequence of four digits, such as 7273. If you win by selecting the same sequence of four digits that are drawn, you collect $2788.

How many different selections are possible?
What is the probability of winning?
If you win, what is your net profit?
Find the expected value.

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(Solved) (5-2) In New Jersey’s Pick 4 lottery game, you pay $0.50 to select a sequence of four digits, such as 7273. If you win by selecting the same sequence

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