A lottery sells 1000 tickets at $1 apiece. There is one winner who receives $100, and 5 second place winners who receive $50 each. What is the expected value of a ticket?
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Home » Advanced Placement (AP) » A lottery sells 1000 tickets at $1 apiece. There is one winner who receives $100, and 5 second place winners who receive $50 each. What is the expected value of a ticket?