Question: Expected Value = (Probability of $50 prize * $50) + (Probability of $100 prize * $100) + (Probability of $500 prize * $500) = (

Expected Value = (Probability of $50 prize * $50) + (Probability of $100 prize * $100) + (Probability of $500 prize * $500) = ( * $50) + ( * $100) + (0.1 * $500) = $100

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