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A raffle sells 10,000 tickets. Each ticket is sold for $50. Below is a list of...

A raffle sells 10,000 tickets. Each ticket is sold for $50. Below is a list of prizes and the number of that type of prize.

1 Grand Prize: Toyota Yaris - Value: $17,750

100 Second place prizes: Nintendo Switch with Games: $500

1000 Third Place Prizes: A Box of Frosted Lucky Charms: $4

A. Calculate the variance and round to 2 decimal places

B. Calculate the standard deviation and round to 2 decimal places

Math   Statistics-And-Probability   
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Answer #1
event x P(X=x) xP(x) x2P(x)
grand prize -17700 0.0001 -1.770 31329.000
Games -450 0.0100 -4.500 2025.000
Box 46 0.1000 4.600 211.600
No prize 50 0.8899 44.495 2224.750
0 total 42.825 35790.350
E(x) =μ= ΣxP(x) = 42.8250
E(x2) = Σx2P(x) = 35790.3500
Var(x)=σ2 = E(x2)-(E(x))2= 33956.369375
std deviation=         σ= √σ2 = 184.27254

from above

A)   variance =33956.37

B) standard deviation =184.27

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