Suppose you buy 1 ticket for 1 out of a lottery of 1000
Suppose you buy 1 ticket for $1 out of a lottery of 1,000 tickets whre the prize for one winning ticket is to be $500. What is your expected value?
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suppose you buy 1 ticket for 1 out of a lottery of 1000 tickets whre the prize for one winning ticket is to be 500 what
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