Mathematics, 19.11.2020 04:40 vxdsvsfdds

One thousand chances are sold at $6 apiece for a raffle. There is a grand prize of $650, two second prizes of $200, and five third prizes of $150. First calculate the expected value of the lottery. Determine whether the lottery is a fair
game. If the game is not fair, determine a price for playing the game that would make it fair.

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One thousand chances are sold at $6 apiece for a raffle. There is a grand prize of $650, two second...

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