Question

Analyze the scenario and complete the following:

- Complete the discrete probability distribution for the given variable.
- Calculate the expected value and variance of the discrete probability distribution.

The value of a ticket in a lottery, in which 2,000 tickets are sold, with 1 grand prize of $4,000, 10 first prizes of $300, 30 second prizes of $100, and 65 third prizes of $20.

**i.**

x | 0 | 20 | 100 | 300 | 4,000 |
---|---|---|---|---|---|

P(x) |
? |
? |
? |
? |
? |

The above is also a question, i put question marks just in case you miss it.

Round probabilities to 4 decimal places

**ii.**

E(X)=

Round to 2 decimal places

Var(X) =

Round to 2 decimal places

Answer #1

Analyze the scenario and complete the following:
Complete the discrete probability distribution for the given
variable.
Calculate the expected value and variance of the discrete
probability distribution.
The value of a ticket in a lottery, in which 2,000 tickets are
sold, with 1 grand prize of $2,500, 10 first prizes of $450, 20
second prizes of $125, and 55 third prizes of $40.
i.
xx
0
40
125
450
2,500
P(x)P(x)
Round probabilities to 4 decimal places
ii.
E(X)E(X) =...

For a multistate lottery, the following probability
distribution represents the cash prizes of the lottery with their
corresponding probabilities. Complete part A.
A. If the grand prize is $15,000,000, find and interpret the
expected cash prize. If a ticket costs $1, what is your expected
profit from one ticket?
The expected cash prize is $ ________
B. To the nearest million, how much should the grand prize be
so that you can expect a profit? Assume nobody else wins so...

It is on the Discrete probability distribution.
John bought one of 200 raffle tickets for $10. The sponsors then
randomly select one grand prize worth $200, two second prizes worth
$100 each, and three third prizes at $50 each.
(a) Verify that this is a probability distribution.
(b) Recognizing that John spent $10 to buy a ticket, determine the
expected value of this raffle to him.

Lottery: I buy one of 400 raffle tickets for
$20. The sponsors then randomly select 1 grand prize worth $500,
then 2 second prizes worth $300 each, and then 3 third prizes worth
$100 each. The selections are made without replacement.
(a) Complete the probability distribution for this raffle. Give
your probabilities as a decimal (rounded to 4 decimal
places) or as a fraction.
Outcomes
P(x)
Win
Grand Prize
Win a
Second Prize
Win a
Third Prize
Win
Nothing
(b)...

A lottery with 200 tickets sold gives five prizes-grand prize of
$50 2 second prizes of $20 each and 2/3 prices of $5 each. Tickets
for the prices are drawn at random, without replacement (no one can
win two prizes). Define a random variable X as the amount won by a
person who holds one ticket.
A)give the probability distribution for x
B)if a ticket cost $10 what is the probability of making a
profit by buying a ticket?

A lottery has a grand prize of $380,000, three runner-up prizes
of $76,000 each, seven third-place prizes of $9500 each, and
twenty-four consolation prizes of $760 each. If 760,000 tickets are
sold for $1 each and the probability of any one ticket winning is
the same as that of any other ticket winning, find the expected
return on a $1 ticket. (Round your answer to two decimal
places.)

I buy one of 400 raffle tickets for $20. The sponsors then
randomly select 1 grand prize worth $600, then 2 second prizes
worth $200 each, and then 3 third prizes worth $50each. The
selections are made without replacement.
(a) Complete the probability distribution for this raffle. Give
your probabilities as a decimal (rounded to 4 decimal
places) or as a fraction.
Outcomes
P(x)
Win
Grand Prize
Win a
Second Prize
Win a
Third Prize
Win
Nothing
(b) Recognizing that...

1.One coin is taken at random from a bag containing 5 nickels, 4
dimes, and 7 quarters. Let X be the value of the coin
selected. Find E(X). (Round your answer to two
decimal places.)
E(X) = $
2.A lottery has a grand prize of $120,000, two runner-up prizes
of $15,000 each, four third-place prizes of $6000 each, and eight
consolation prizes of $1200 each. If 480,000 tickets are sold for
$1 each and the probability of any one ticket...

1.
x
P(x)
0
0.1
1
0.15
2
0.25
3
0.5
Find the standard deviation of this probability distribution. Give
your answer to at least 2 decimal places
2. The student council is hosting a drawing to raise money for
scholarships. They are selling tickets for $7 each and will sell
700 tickets. There is one $2,000 grand prize, two $200 second
prizes, and ten $30 third prizes. You just bought a ticket. Find
the expected value for your profit....

Consider the following discrete probability distribution.
x
−15
−5
15
20
P(X = x)
0.52
0.13
0.16
.
Complete the probability distribution. (Round your
answer to 2 decimal places.)
P(X = 15)
c.
What is the probability that the random variable X is
positive? (Round your answer to 2 decimal
places.)
Probability
d.
What is the probability that the random variable X is
greater than −10? (Round your answer to 2...

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