An instant lottery ticket costs $2. Out of a total of 10,000 tickets printed for this lottery, 750 tickets contain a prize of $5 each, 75 tickets have a prize of $10 each, 4 tickets have a prize of $1000 each, and 1 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. -2 X i 3 i P(x) 8 i ! 998 i 4998 i Determine the mean and standard deviation of x. Round your answers to two decimal places. Mean $i = Standard deviation = $ 53.8624 On average, the players who play this game are expected to lose く $ i per ticket with a standard deviation of $ 53.8624
An instant lottery ticket costs $2. Out of a total of 10,000 tickets printed for this lottery, 750 tickets contain a prize of $5 each, 75 tickets have a prize of $10 each, 4 tickets have a prize of $1000 each, and 1 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. -2 X i 3 i P(x) 8 i ! 998 i 4998 i Determine the mean and standard deviation of x. Round your answers to two decimal places. Mean $i = Standard deviation = $ 53.8624 On average, the players who play this game are expected to lose く $ i per ticket with a standard deviation of $ 53.8624
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Transcribed Image Text:An instant lottery ticket costs $2. Out of a total of 10,000 tickets printed for this lottery, 750 tickets contain a prize of $5 each, 75
tickets have a prize of $10 each, 4 tickets have a prize of $1000 each, and 1 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.
-2
3
8
X
998
i
4998
i
P(x)
Determine the mean and standard deviation of x.
Round your answers to two decimal places.
Mean = i
Standard deviation = $ 53.8624
On average, the players who play this game are expected to
standard deviation of $ 53.8624
lose
SA
i
per ticket with a
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