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Create the probability model for situation

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Reference no: EM131836180

Pennsylvania has a lottery entitled "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 choses from four bins, each containing 10 balls numbered 0-9. The only way to win I match all 4 digits. If the payoff for a $100 bet is $10,000, what is the expected value of winning? Create the probability model for this situation. Based on the model, is it worth playing? Please write the model and find the expected value. Please include a screenshot of the model with the anser

Reference no: EM131836180

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