In a box there are two prizes that are worth $5, a single prize worth $10, and a single prize worth $100. A player will reach into the box and draw one of the prizes at random. What is the fair price for this game?
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In a lottery there are 200 prizes of $5, 20 prizes of $25, and 5 prizes of $100. Assuming that 10,000 tickets are to be issued and sold, what is a fair price to pay for a ticket? Give your comments about fair price of a ticket.
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