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Your family plays a money game for Christmas where the someone pulls names out of a hat. If a child is chosen, they win $10.
Your family plays a money game for Christmas where the someone pulls names out of a hat. If a child is chosen, they win $10. If a young adult is chosen, they win $50. If an adult is chosen, they have to pay $50 and if a senior is chosen, they have to pay $100. What is the expected value for your family if plays the game 5 times - children 8, young adults 5, adults 3, seniors 4
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