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Question 1
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If a man purchases a raffle ticket, he can win a first prize of Rs.5,000 or a second prize of Rs.2,000 with probabilities 0.001 and 0.003 respectively. What should be a fair price to pay for the ticket?
A.
Rs.11
B.
Rs. 15
C.
Rs. 2000
D.
None of these
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