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20 June, 09:46

Suppose the auction house from the preceding problem sold 200 tickets at $1 each, and had 16 prizes of $10 each. What is the new expected value?

A) $0

B) $0.2

C) - $0.2

D) $0.8

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Answers (1)
  1. 20 June, 11:20
    0
    200/160=1.25

    200+160=360/1.25/160=200.8

    so your answer is 0.8
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