Question: Question 1 0/1 pt 5 2 Robert bought a $4 lottery ticket such that 1 in 100 would win $12, 1 in 1000 would win

Question 1 0/1 pt 5 2 Robert bought a $4 lottery

Question 1 0/1 pt 5 2 Robert bought a $4 lottery ticket such that 1 in 100 would win $12, 1 in 1000 would win $80, and 1 in 50 million would win 1 million. What is the expected value of a lottery ticket in dollars? Does Robert expect to earn a profit if he buys 100 tickets? Select an answer v By how much? Question Help: Message instructor

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