Question: Current Attempt in Progress An instant lottery ticket costs $2. Out of a total of 10,000 tickets printed for this lottery, 1000 tickets contain a

 Current Attempt in Progress An instant lottery ticket costs $2. Out

Current Attempt in Progress An instant lottery ticket costs $2. Out of a total of 10,000 tickets printed for this lottery, 1000 tickets contain a prize of $5 each, 125 tickets have a prize of $10 each, 2 tickets have a prize of $1000 each, and I ticket has a prize of $5000. Let x be the random variable that denotes the net amount a player wins by playing this lottery. Write the probability distribution of x. Enter the exact answers. Enter your answers for x in increasing order. x P(x) Determine the mean and standard deviation of x. Round your answers to two decimal places. On average, the players who play this game are expected to per ticket with a standard deviation of $ Save for Later Attempts: 0 of 5 used Submit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!