In New Jersey’s Pick 4 lottery game, you pay $0.50 to select a sequence of four digits, such as 7273
Question: 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.
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.
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Solution: The solution consists of 1 page
Type of Deliverable: Word Document
Type of Deliverable: Word Document
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