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Business, 19.03.2021 03:30 Anthonyxxx1
A lottery has a grand prize of $320,000, four runner-up prizes of $32,000 each, twelve third-place prizes of $8000 each, and twenty-five consolation prizes of $800 each. If 1,600,000 tickets are sold for $1 each and the probability of any one ticket winning is the same as that of any other ticket winning, find the expected return on a $1 ticket. (Round your answer to two decimal places.)
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A lottery has a grand prize of $320,000, four runner-up prizes of $32,000 each, twelve third-place p...
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