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What is your expected win-loss

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1) Suppose you buy 1 ticket for $2 out of a lottery of 500 tickets where the prize for the one winning ticket is to be $100. What is your expected win/loss?

2) In a survey of 300 college graduates, 61% reported that they entered a profession closely related to their college major. If 8 college graduates are randomly selected, what is the probability that 5 of them entered a profession closely related to their college major? Round the answer to the nearest thousandths place.

Reference no: EM132465032

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