Posted by **Tina** on Monday, February 11, 2013 at 11:18pm.

A certain sweepstakes ticket has four categories of prizes with the following probabilities of being won:

Prize

Probability

$100,000

1/500,000

$50,000

1/250,000

$20,000

1/200,000

$10,000

1/100,000

What is the expected value of buying these sweepstakes tickets?

Select one:

a. $.60

b. $5.00

c. $.50

d. $6.00

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