Question
A city has a game called pick 4, Each player pays $5 and picks one four-digit number (from 0000 to 9999), if your number is
A city has a game called pick 4, Each player pays $5 and picks one four-digit number (from 0000 to 9999), if your number is randomly selected, then you win $2600, in the table below what would be the discrete probability distribution for a player's winnings?
X | ? | ? |
P(x) | ? | ? |
If someone plays this game, their expected value is 4.74.Which of the following is the correct interpretation of this?
1) Every time you play this lottery you will lose $4.74.
2) Every time you play this lottery you will win $4.74.
3) If you play this lottery many times, you can expect to lose an average of $4.74 per game.
4) If you play this lottery many times, you can expect to win an average of $4.74 per game.
5) Every time you play this lottery you will lose.
6) Every time you play this lottery you will win.
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