The probabilities for the amount that can be won on a lottery game are given in the table below. Find the missing probability X. Amount($) 0 1 2 3 Probability 0.53 0.27 X 0.04 >3 0.01

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The probabilities for the amount that can be won on a lottery game are given in the table below.
Find the missing probability X.
X =
Amount($) 0
1
2 3
>3
Probability 0.53 0.27 X 0.04 0.01
Transcribed Image Text:The probabilities for the amount that can be won on a lottery game are given in the table below. Find the missing probability X. X = Amount($) 0 1 2 3 >3 Probability 0.53 0.27 X 0.04 0.01
Expert Solution
Step 1

The random variable is Amount.

The variable has 5 categories and the probabilities are about how much amount won on a lottery game.

This is Discrete probability distribution.

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