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.

the data of the detroit pistons in numerical order from least to greatest is 0.30, 0.37, 0.55, 0.62, 0.69, 0.72, 0.73, 0.75, 0.77, 0.78, 0.80, 0.81, 0.81, 0.83, 0.84, 0.89

the data of the miami heat in numerical order from least to greatest is 0.50, 0.50, 0.56, 0.57, 0.67, 0.72, 0.72, 0.72, 0.75, 0.75, 0.76, 0.81, 0.82, 0.90, 1.00, 1.00

the detroit pistons median : 1.52

the miami heat median: 1.47

the iqr of this data is 0.05