Multiple Choice
If someone offers you a lottery ticket that has a 25 percent chance of winning $100, a 50 percent chance of winning $200, and a 25 percent chance of winning $1,000, what is the expected value of that lottery ticket?
A) $200.
B) $250.
C) $375.
D) $1,300.
Correct Answer:
Verified
Correct Answer:
Verified
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