Question: A student buys a lottery ticket for $1. For every 1000 tickets sold, two bicycles are to be given away in a drawing. (a) What

A student buys a lottery ticket for $1. For every 1000 tickets sold, two bicycles are to be given away in a drawing.
(a) What is the probability that the student will win a bicycle?
(b) If each bicycle is worth $200, determine the student's expected gain.

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