An instant lottery ticket costs $2. Out of a total of 10,000 tickets printed for this lottery,

Question:

An instant lottery ticket costs $2. Out of a total of 10,000 tickets printed for this lottery, 1000 tickets contain a prize of $5 each, 100 tickets have a prize of $10 each, 5 tickets have a prize of $1000 each, and 1 ticket has a prize of $5000. Let x be the random variable that denotes the net amount a player wins by playing this lottery. Write the probability of x. Determine the mean and standard deviation of x. How will you interpret the values of the mean and standard deviation of x? Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...