Question

The payouts for the Powerball lottery and their corresponding odds and probabilities of occurrence are shown...

The payouts for the Powerball lottery and their corresponding odds and probabilities of occurrence are shown below. The price of a ticket is $1.00.

Divisions Payout Odds Probability
Five plus Powerball $ 50,000,000 144,307,962 .000000006930
Match 5 200,000 3,560,009 .000000280898
Four plus Powerball 10,000 583,892 .000001712643
Match 4 180 13,535 .000073877069
Three plus Powerball 180 11,927 .000083836351
Match 3 11 291 .003424657534
Two plus Powerball 11 745 .001340482574
One plus Powerball 4 127 .007812500000
Zero plus Powerball 3 69 .014285714286

Find the mean and standard deviation of the payout without taking into account the price of the ticket. (Round your mean value to 5 decimal places and standard deviation to 3 decimal places.)

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