What is the expected payoff on a single special lottery ticket? Ignore the price of the ticket which is not given.

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
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Chapter8: Sequences, Series,and Probability
Section: Chapter Questions
Problem 41CT: On a game show, a contestant is given the digits 3, 4, and 5 to arrange in the proper order to form...
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Please answer as soon as possible, thank you. A special lottery is held where a four-digit number is chosen at random from the range 0000 − 9999. You win 200 if your ticket matches the last two digits but not the last three, 2000 if your ticket matches the last three digits but not all four, and 20000 if your ticket matches all four digits. What is the expected payoff on a single special lottery ticket? Ignore the price of the ticket which is not given.

Example: Suppose the winning number is 1234, you win: 200 if your number is 9834; 2000 if your number is 9234; and 20000 if your number is 1234 (the winning number).

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