MD has a new type of scratch-off ticket for $400 to win one of: 9 prizes of $800 3 runner-up prizes of $9,000 1 grand prize of $800,000 Once they've sold 9,000 tickets, they will select the winning tickets. What is the expected value? Probability, Outcome, X x · P(x) P(x) Win: grand prize Win: runner-up prize Win: prize Lose

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