Analyze the scenario and complete the following: Complete the discrete probability distribution for the given variable. Calculate the expected value and variance of the discrete probability distribution. The value of a ticket in a lottery, in which 2,000 tickets are sold, with 1 grand prize of $4,000, 10 first prizes of $450, 35 second prizes of $125, and 65 third prizes of $20. i. xx 0 20 125 450 4,000 P(x)P(x)           Round probabilities to 4 decimal places ii. E(X)E(X) =    Round to 2 decimal places Var(X)Var(X) =    Round to 2 decimal places

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Analyze the scenario and complete the following:
  1. Complete the discrete probability distribution for the given variable.
  2. Calculate the expected value and variance of the discrete probability distribution.
The value of a ticket in a lottery, in which 2,000 tickets are sold, with 1 grand prize of $4,000, 10 first prizes of $450, 35 second prizes of $125, and 65 third prizes of $20.
i.
xx 0 20 125 450 4,000
P(x)P(x)
 
 
 
 
 

Round probabilities to 4 decimal places
ii.
E(X)E(X) = 
 
Round to 2 decimal places
Var(X)Var(X) = 
 
Round to 2 decimal places
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