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In the Maryland state lottery 4 digit game, you must hit 4 consecutive numbers to win. Each of the balls are drawn from a bin of balls, labeled 0,1,2,.9. There are 4 bins, and each bin has ten balls in it. For a $1 bet, if you win, you win $5,000 (that is, you profit $4,999). Find the expected value of playing this game to the player.

In the Maryland state lottery 4 digit game, you must hit 4 consecutive numbers to win. Each of the balls are drawn from a bin of balls, labeled 0,1,2,.9. There are 4 bins, and each bin has ten balls in it. For a $1 bet, if you win, you win $5,000 (that is, you profit $4,999). Find the expected value of playing this game to the player.

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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In the Maryland state lottery 4 digit game, you must hit 4 consecutive numbers to win. Each of the balls are drawn from a bin of balls, labeled 0,1,2,...9. There are 4 bins, and each bin has ten balls in it. For a $1 bet, if you win, you win $5,000 (that is, you profit $4,999). Find the expected value of playing this game to the player.
Transcribed Image Text:In the Maryland state lottery 4 digit game, you must hit 4 consecutive numbers to win. Each of the balls are drawn from a bin of balls, labeled 0,1,2,...9. There are 4 bins, and each bin has ten balls in it. For a $1 bet, if you win, you win $5,000 (that is, you profit $4,999). Find the expected value of playing this game to the player.
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