Analyze the scenario and complete the following:i. Complete the discrete probability distribution for the given variable.ii. 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, 5 first prizes of $450, 20 second prizes of $125, and 65 third prizes of $30.FP(x)00.0000300.00001250.00004500.00004,0000.0000

Given that the value of a ticket in a lottery, in which 2,000 tickets are sold, with 1 grand prize…

Answered: Analyze the scenario and complete the…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Analyze the scenario and complete the following: i. Complete the discrete probability distribution for the given variable. ii. Calculate the expected value and variance of the discrete probability distribution.