Question

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.)**

Answer #1

PLEASE SOLVE USING EXCEL FUNCTIONS
Question 6:
The prizes for the Powerball lottery are shown on this worksheet
along with their corresponding probabilities. Find the mean and
standard deviation of the prize when you buy one lottery
ticket.
Divisions
Prize (X)
Probability (f(X))
Five plus Powerball
$50,000,000
0.0000000068443
Match 5
$200,000
0.0000002806143
Four plus Powerball
$10,000
0.0000017110601
Match 4
$100
0.0000701459035
Three plus Powerball
$100
0.0000838363514
Match 3
$7
0.0034246575342
Two plus Powerball
$7
0.0013404825737
One plus Powerball
$4
0.0078125000000...

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MATHEMATICS
1. The measure of location which is the most likely to
be
influenced by extreme values in the data set is the a. range
b.
median c. mode d. mean
2. If two events are independent, then a. they must be
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