A lottery has a grand prize of $100,000, ten runner-up prizes of $20,000 each and 50 consolation
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Question:
A lottery has a grand prize of $100,000, ten runner-up prizes of $20,000 each and 50 consolation prizes of $1,000 each. million tickets are sold for $1 each.Let random variableXbe the face valueof aticket that you buy.Construct the probability distribution table forX,and findE(X),the expected face value on aticket that you buy.Round your answer to three decimal places.
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