Question: The random variable X is the amount a person wins, in dollars, after purchasing a single raffle ticket.Below is the probability distribution for X. x

The random variable X is the amount a person wins, in dollars, after purchasing a single raffle ticket.Below is the probability distribution for X.

x 0 100 500

P(X = x) 0.78 0.15 0.07

Find the expected value of the random variable X.

E(X) =?

Blank 1. Calculate the answer by read surrounding text.

DoNOTround the answer.

Find the standard deviation of the random variable X.

standard deviation = ?

Blank 2. Calculate the answer by read surrounding text.

Round your answer correctly to2 decimal places.

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