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A lottery ticket on the market gives players the chance to win up to $1000 instantly in cash prizes.Let X be the discrete random variable
A lottery ticket on the market gives players the chance to win up to $1000 instantly in cash prizes.Let X be the discrete random variable of cash prizes available.The following table shows the discrete probability distribution of the possible cash prizes available to players, with the corresponding probabilities.
X
P(X)
0
0.80
29
0.10
163
0.09
1000
0.01
What is the expected value of the cash prize? Please give your answer correctly rounded to two decimal places,do NOT include units in your answer.
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