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Big 4 To win a player must correctly match 4 digits in order from a daily lottery in which four digits are selected

"Big 4". To win, a player must correctly match 4 digits, in order, from a daily lottery in which four digits are selected. Digits are chosen from four separate bins, each containing 10 balls numbered 0-9.  The only way to win is to match all 4 digits. If the payoff for a$100 bet is $10000, what is the expected value of winning? Create the probability model for this situation. Based on the model, is it worth playing?  

Apr 23 2020 View more View Less

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