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A state lottery draws winning numbers every week. Six different numbers are randomly drawn from the numbers 1 through 50. A player selects six different
A state lottery draws winning numbers every week. Six different numbers are randomly drawn from the numbers 1 through 50. A player selects six different numbers and pays $1.00 for a ticket. If the players six numbers match the six drawn by the state (in any order) then the ticket holder wins a share of a large cash sum equal in value to the total ticket sales.
Explain whether the market for lottery tickets is weak form of efficient.
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