Multiple Choice
Solve the problem.
-Suppose you buy 1 ticket for $1 out of a lottery of 1,000 tickets where the prize for the one winning ticket is to be $500. What is your expected value?
A) -$0.40
B) -$0.50
C) -$1.00
D) $0.00
Correct Answer:
Verified
Correct Answer:
Verified
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