Suppose you buy 1 ticket for $1 out of a lottery of 400 tickets with only 1 being the winning ticket. The prize for the one winning ticket is $100. What is your expected value in dollar? Round your...


Suppose you buy 1 ticket for $1 out of a lottery of 400 tickets with only 1 being the winning ticket.<br>The prize for the one winning ticket is $100. What is your expected value in dollar? Round your<br>value to 0.01 dollar. For example, -0.50 means losing half a dollar.<br>

Extracted text: Suppose you buy 1 ticket for $1 out of a lottery of 400 tickets with only 1 being the winning ticket. The prize for the one winning ticket is $100. What is your expected value in dollar? Round your value to 0.01 dollar. For example, -0.50 means losing half a dollar.

Jun 01, 2022
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