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Suppose That a Raffle Ticket Costs $5 and Has a Jackpot

Question 20

Multiple Choice

Suppose that a raffle ticket costs $5 and has a jackpot of $1 million. For this raffle to be considered a fair gamble, the probability of not winning must be:


A) 99.95 percent.
B) 99.995 percent.
C) 99.9995 percent.
D) 99.99995 percent.
E) None of the above.

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