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In a state's pick lottery game you pay

30/04/2021 Client: muhammad11 Deadline: 2 Day

In New Jersey's Pick 4 lottery game, you pay 500 to select a sequence of four digits, such as 2273, from the 10,000 different possible four-digit sequences. If you select the same sequence of four digits that are drawn, you win and collect $2788. What is your expected value? In the long run, how much do you lose for each 500 bet?

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