A grocery chain runs a prize game by giving each customer a ticket that may win a
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A grocery chain runs a prize game by giving each customer a ticket that may win a prize when the box is scratched off. Printed on the ticket is a dollar value ($500, $100, $25) or the statement
“This ticket is not a winner.” Monetary prizes can be redeemed for groceries at the store. Here is the probability distribution of the amount won on a randomly selected ticket:
Amount won: $500 $100 $25 $0 Probability: 0.01 0.05 0.20 0.74 Which of the following are the mean and standard deviation, respectively, of the winnings?
(a) $15.00, $2900.00
(b) $15.00, $53.85
(c) $15.00, $26.93
(d) $156.25, $53.85
(e) $156.25, $26.93
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