Mathematics, 12.12.2020 16:10 JOHNDoe3443

A scratch-off lottery ticket costs 5 dollars. If the ticket wins, it can be redeemed for 100 dollars. If the ticket loses, the ticket is worthless. According to the lottery's website, 4% of all tickets are winners.
The expected value of buying a ticket is -1 dollar.
Which of the following statements are true?

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A scratch-off lottery ticket costs 5 dollars. If the ticket wins, it can be redeemed for 100 dollars...

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