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You hold a lottery ticket. There is a 10% chance you win $500, a 40% chance you win $25, and a 50% you win $0.
You hold a lottery ticket. There is a 10% chance you win $500, a 40% chance you win $25, and a 50% you win $0. What is the expected monetary value of your lottery ticket?
A.) $25
B.) $52.50
C.) $60
D.) $125
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