Essay
For Questions , use the following narrative:
Narrative: Instant lotto
Suppose an "Instant Lotto" ticket costs $5, and the chances of winning the $500 prize are 1/10,000.There are no other prizes.
-{Instant lotto narrative} What is your expected value for this game for each ticket you buy?
Correct Answer:
Verified
Correct Answer:
Verified
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