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XYZ company has designed a new lottery scratch-off game. The player is instructed to scratch off one spot: A, B, or C. A can reveal "loser, " "win $1, " or "win $50." B can reveal "loser" or "take a second chance." C can reveal "loser, " or "win $500." On the second chance, the player is instructed to scratch off D or E. D can reveal "loser" or "win $1E can reveal "loser" or "win $10." The probabilities at A are 0.9, 0.09, and 0.01 respectively. The probabilities at B are 0.8 and 0.2. The probabilities at C are 0.999 and 0.001. The probabilities at D are 0.5 and 0.5. The probabilities at E are 0.95 and 0.05. Calculate the expected value of the game. please enter the answer as a regular number with no symbols except for decimal point.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92272913

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