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Bobbie is contemplating buying a lottery ticket for $ 1 that has a 1 percent chance of paying $ 1 0 0 . What is

Bobbie is contemplating buying a lottery ticket for $

1

that has a

1

percent chance of paying $

100 .

What is Bobbie's average expected rate of return on this "investment?"

practically zero percent

1

percent

50

percent

1

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