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Probability

what is the expected fair price to pay for a ticket?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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In an lottery there are 200 prizes of sh.5, 20 prizes of sh.25, and 5 prizes of sh.100. Assuming that 10000 tickets are to be issued and sold, what is the expected fair price to pay for a ticket?

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