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OpenStudy (anonymous):
1st Place: $10,000 2nd Place: $5,000 3rd Place: $2,500 4th Place: $1,500 5th Place: $1,000 6th - 10th Place: $500 A golf tournament has 100 players and awards prizes to the first 10 places as shown. What is the expected value for a player in the tournament?
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OpenStudy (anonymous):
Expected value = weighted average Total amount of money given: $22500, total amount of players: 100 Expected value: $225
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