Consider a lottery that costs $1 to participate and offers a 1% to win $50. What is the expected profit from buying one lottery ticket?

Name: Consider a lottery that costs $1 to participate and offers a 1% to win $50. What is the expected profit from buying one lottery ticket?
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The Answer of Consider a lottery that costs $1 to participate and offers a 1% to win $50. What is the expected profit from buying one lottery ticket?

Consider a Lottery That Costs $1 to Participate and Offers