A local lottery costs $5 a ticket, and there are 5000 tickets sold. There is one first

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A local lottery costs $5 a ticket, and there are 5000 tickets sold. There is one first prize for $1000, three second prizes of $100 each and ten third prizes of $25 each. You decide to purchase one ticket. What are your expected winnings? Make sure you show all work

Posted Date: May 13, 2024 03:54 AM

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A local lottery costs $5 a ticket, and there are 5000 tickets sold. There is one first

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To calculate your expected winnings from purchasing one ticket for the local lottery we need to cons... View the full answer

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