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OpenStudy (anonymous):
An auction website charges $1 for a bid. The bidding starts at 1¢ and goes up 1¢ at a time. A television that is worth $2000 is won, on average, with a bid of $160. You make one bid at random. Find the expected value of the outcome of the bid.
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OpenStudy (anonymous):
Oh thanks
OpenStudy (jaydenthequiet):
No problem
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