Instructions

Compute the variance and standard deviation of the value of a Lotto Texas ticket:

Standard Deviation of a Lottery Ticket

Even though the expected value of a lottery ticket is small, some tickets are worth much more than others.

Return to Sheet$1$

In cell J$3,$ type $$Deviation$$ in bold

In cell J$4,$ enter the formula $=$E$4-$$F$$11$

Highlight cell J$4,$ then fill down to the cell range J$4$:J$10$

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In cell K$3,$ type $$Deviation$^2$ in bold

In cell K$4,$ enter the formula $=$J$4^2$

Highlight cell K$4,$ then fill down to the cell range K$4$:K$10$

$$

In the cell L$3,$ type $$Product$$ in bold

In the cell L$4,$ enter the formula $=$D$4*$K$4$

Highlight the cell L$4,$ then fill down to the cell range L$4$:L$10$

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In the cell K$11,$ type $$V$($Prize$)$ in bold

In the cell L$11,$ enter the formula $=$SUM$($L$4$:L$10)$

$$

In the cell K$12,$ type $$SD$($Prize$)$ in bold

In the cell L$12,$ enter the formula $=$SQRT$($L$11)$

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What is the standard deviation in the value of a Lotto Texas ticket?$($Round to the nearest cent.$)$