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Mathematics 15 Online
OpenStudy (anonymous):

In a radio station contest, the first prize is $2000 and the second prize is $500. The probability of winning the first prize is 0.005 and the probability of winning the second prize is 0.008. The station runs the contest many, many times to increase it's listening audience. What is the expects payout for each time the station offers the opportunity to win the prize?

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