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Use expected value to determine if the following game is fair or not.
Players use $5 to play a ticket in a raffle. The following prizes are shown as the net gain after purchasing a ticket.
Winnings
Not a winner (-5)
Small Prize (15)
Big Prize (50)
Grand Prize (210)
P(winnings)
0.9
0.06
0.03
0.01
Is this game fair for the player? Why or why not?



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