x $1,000,000 $100,000 $5,000 $0 P(X = x) 1 3,000,000 10 3,000,000 100 3,000,000 2,999,889 3,000,000
A certain lottery sells 3 million tickets for $2 Let X denote your winnings upon purchasing 1 ticket, and suppose X has the following
A. What is the
B. Since each ticket costs $2, define Y=X-2 to be your profit from purchasing 1 ticket. Compute and interpret the expected value of Y.
C. Suppose you purchase 100 tickets. What is the probability that you win any amount of money among all 100 tickets? For simplicity, assume independence.
Here we have given probability distribution table above
It shows the likelihood that a random variable will take on particular values.
In Probability Distribution Table
1. Sum of all probability always be 1.
2. The following formula can be used to get the mean of a probability distribution
table:
Step by step
Solved in 2 steps
