If you bet $1 in kentucky’s pick 4 lottery game, you either lose $1 or gain $4,999. (the winning prize is $5,000, but your $1 bet is not returned, so the net gain is $4,999.) the game is played by selecting a four-digit number between and . what is the probability of winning? if you bet $1 on 1234, what is the expected value of your gain or loss?

The expected value of loss is -$0.5.

Step-by-step explanation:

Consider the provided information.

We need to select a four digit number between 0000 and 9999.

The two outcomes are either you lose $1 or you gain $4999.

If you bet $1 on 1234, then

The probability of losing is:

The probability of winning is:

The expected value of gain or loss is:

Hence, the expected value of loss is -$0.5.

option 1

data plot with   3 dots over 33, 1 dot over 34, 2 dots over 35, no dot over 36, 1 dot over 37, 2 dots over 38, 4 dots over 39, and 2 dot over 40.

14.3

step-by-step explanation:

add all the numbers together.

9 + 12 + 15 + 16 + 17 + 17 = 86

now, divide 86 by how many numbers we have: 6.

86 / 6 = 14.3