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Business, 10.03.2020 00:45 ashneedshelp1251

A lottery has a grand prize of $100,000, two runner-up prizes of $12,500 each, four third-place prizes of $2000 each, and six consolation prizes of $200 each. If 200,000 tickets are sold for $1 each and the probability of any one ticket winning is the same as that of any other ticket winning, find the expected return on a $1 ticket. (Round your answer to two decimal places.)

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A lottery has a grand prize of $100,000, two runner-up prizes of $12,500 each, four third-place priz...
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