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A lottery ticket has a grand prize of $30.8 million. The probability of winning the grand prize is 000000050. Determine the expected value of the

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A lottery ticket has a grand prize of $30.8 million. The probability of winning the grand prize is 000000050. Determine the expected value of the lottery ticket. [Round your answer to 3 decimal places.) Expected value ls paying $1 for a ticket greater than the expected winnings? O No 0 Yes

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