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18 December, 16:03

You buy a lottery ticket to a lottery that costs $10 per ticket. There are only 100 tickets available to be sold in this lottery. In this lottery there are one $500 prize, two $100 prizes, and four $30 prizes. Find your expected gain or loss. (Round your answer to two decimal places.)

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  1. 18 December, 16:28
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    500 - 10 = 490$ gain

    100 - 10 = 90$ gain

    30 - 10 = 20$ gain

    no win = - 10$ loss
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