The following table lists the probability distribution for cash prizes in a lottery conducted at Lawsons Department

Question:

The following table lists the probability distribution for cash prizes in a lottery conducted at Lawson’s Department Store:
Prize ($) ................Probability
$0 ..................................0.45
10 .................................0.30
100 ...............................0.20
500 ...............................0.05

If you buy a single ticket, what is the probability that you will win:
a. Exactly $100?
b. At least $10?
c. No more than $100?
d. Compute the mean, variance, and standard deviation of this distribution.

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...

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a 020 b 055 c 095 d 04...View the full answer

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