Expected Winnings in a LotteryA small lottery sells 1000 tickets numbered 000, 001, ...,999; the tickets cost $10 each. When allthe tickets have been sold the draw takes place: this consists of a simple ticket from 000 to 999 beingchosen at random. For ticket holders the prize structure is as follows:• Your ticket is drawn - win $5000.• Your ticket has the same first two number as the winning ticket, but the third is different - win$100.• Your ticket has the same first number as the winning ticket, but the second number is different -win $10.• All other cases - win nothing.Let the random variable X represent the winnings from a given ticket. Find E(X).

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Answered: Expected Winnings in a Lottery A small…

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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