Multiple Choice
Provide an appropriate response.
-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) -$1.00
B) $0.00
C) -$0.50
D) -$0.40
Correct Answer:
Verified
Correct Answer:
Verified
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