During a fund-raising drive, 500 raffle tickets are old at $1 each. One ticket will win the first prize worth $20; 3 tickets will win second-prizes worth $10 each; and 10 tickets will win third-prizes worth $5 each. Assuming that each person buys only one ticket, let x be a ticket buyer’s net winnings. (a) Find the probability distribution of x. (b) Find the probability that a ticket buyer wins no more than $10. (c) Find the mean of x. Interpret the answer in plain language.
During a fund-raising drive, 500 raffle tickets are old at $1 each. One ticket will win the first prize worth $20; 3 tickets will win second-prizes worth $10 each; and 10 tickets will win third-prizes worth $5 each. Assuming that each person buys only one ticket, let x be a ticket buyer’s net winnings. (a) Find the probability distribution of x. (b) Find the probability that a ticket buyer wins no more than $10. (c) Find the mean of x. Interpret the answer in plain language.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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During a fund-raising drive, 500 raffle tickets are old at $1 each. One ticket will win the
first prize worth $20; 3 tickets will win second-prizes worth $10 each; and 10 tickets will
win third-prizes worth $5 each. Assuming that each person buys only one ticket, let x be a
ticket buyer’s net winnings.
(a) Find the
(b) Find the probability that a ticket buyer wins no more than $10.
(c) Find the mean of x. Interpret the answer in plain language.
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