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 probabilitydistribution.The value of a ticket in a lottery, in which 2,000 tickets are sold, with 1 grand prizeof $4,500, 10 first prizes of $400, 20 second prizes of $100, and 70 third prizes of$50.ii.HP(x)0Round probabilities to 4 decimal placesE(X)=Round to 2 decimal places50Var (X) =Round to 2 decimal places1004004,500

Here the given information is The value of a ticket in a lottery, in which 2,000 tickets are sold,…

Answered: Analyze the scenario and complete the…

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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You roll five fair six-sided dice. Let X denote the sum of the numbers shown. Compute the expectation and the variance of X.
3. Two board members were chosen at random from 12 candidates of which 8 were independent candidates. a. Determine the probability distribution for the number of independent candidates selected. b. Find the mean and the variance of the distribution of the number of independent candidates chosen as board members.
3. For each experiment, fill in the blank with the letter for the probability histogram that corresponds to the quantity indicated. Experiment 1: A gambling game has a 30% chance of winning $2 and a 70% chance of losing $1. We play the game 100 times and keep track of the net amount won or lost. Experiment 2: We flip a coin 40 times and keep track of the number of heads. 0.08 90'0 0.12 0.08 0.04 000 0 0 20 10 40 20 60 8 80 30 (a) 100 (c) (e) 40 0.00 0.012 0.008 1000 0000 -100 -50 -100 -50 0 0 50 T 50 (b) 100 150 200 30 (d) (f) 100 150 200
A food truck near the University of Windsor specializes in healthy sandwiches. The sandwiches are prepared fresh each morning and any unsold sandwiches are donated to a food bank. Each sandwich costs $6 to make and sells for $10. The daily number of sandwiches sold, x, has the following distribution: (shown in image) a. Fill in the missing probability in the table above b. What is the expected daily profit? (hint: find the mean of x and multiply it by profit per sandwich) c. Find the mean, variance and standard deviation of the number of daily number of sandwiches sold. d. What is P(x  2| x < 4)?
Nicole has purchased the life insurance policy for her fish for the price of $200 per year and Nicole will receive $4000 in case if her fish passes away. The insurance company estimated the probability of her fish passing away during the length of the policy to be 0.5%. Let XX be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for XX : XX outcome profit xx ,$ P(X=x)P(X=x) fish passes away fish survives 2. Use the probability distribution table to find the following: E[X]=μX=E[X]=μX= dollars. (Round the answer to 1 decimal place.) SD[X]=σX=SD[X]=σX= dollars. (Round the answer to 1 decimal place.)
Megan has purchased the insurance policy from an insurance company to cover the value of hers new car in case if it gets totaled for the price of $1500 per year. Megan's car worth $20000 and the probability of her totaling the car during the length of the policy is estimated to be 0.4%. Let XX be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for XX : XX outcome profit xx ,$ P(X=x)P(X=x) car is totaled car is not totaled 2. Use the probability distribution table to find the following: E[X]=μX=E[X]=μX= dollars. (Round the answer to 1 decimal place.) SD[X]=σX=SD[X]=σX= dollars. (Round the answer to 1 decimal place.)
Discrete Probability Distributions Worksheet 1. You flip four coins. Let X, the random variable, be the number of heads on all four coins. a. List the sample space for the experiment. b. What are the possible values for x? c. Is the random variable, x, continuous or discrete? d. Construct a probability distribution for this experiment. (X) e. Construct a histogram for the probability distribution in the space below. 2. Determine if the following are probability distributions (if no, state why). а. X 6. P(X) 4/9 12 15 3. 6. 1 2 3 4 5 P(X) 3/10 1/10 1/10 2/10 3/10 20 30 40 50 1.1 0.2 0.9 0.3 (X)

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