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OPTION A. Purchase an Aardvark lottery ticket for $10. Aardvark lottery tickets pay $25 if you win. Aardvark lottery tickets have either a 1 or

OPTION A. Purchase an Aardvark lottery ticket for $10. Aardvark lottery tickets pay $25 if you win. Aardvark lottery tickets have either a 1 or a 2 printed on them. The Lotto board will draw a number from a basket that is filled with an equal number of #1 and #2 balls. If the randomly drawn number matches the number on the ticket, the ticket pays $25. Expected payoff is $ [b]

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