Question: Pepsi and Mountain Dew products sponsored a contest giving away
Pepsi and Mountain Dew products sponsored a contest giving away a Lamborghini sports car worth $215,000. The probability of winning from a single bottle purchase was .00000884. Find the expected value. Show your calculations clearly. (Data are from J. Paul Peter and Jerry C. Olson, Consumer Behavior and Marketing Strategy, 7th ed. [McGraw-Hill/Irwin, 2005], p. 226.)
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