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Analyze the scenario and complete the following: Complete the discrete probability distribution for the given variable....

Analyze the scenario and complete the following:

  1. Complete the discrete probability distribution for the given variable.
  2. 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) =

Round to 2 decimal places

Var(X)Var(X) =

Round to 2 decimal places

Math   Statistics-And-Probability   
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