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    Essentials of Business Statistics
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    Exam 6: Decision Analysis and Expected Value
  5. Question
    A Dream Car Lottery Is Valued at $100,000
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A Dream Car Lottery Is Valued at $100,000

Question 7

Question 7

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A dream car lottery is valued at $100,000. The probability of winning the car is 0.001. What is the expected value of the lottery if it costs $50 to play?

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