Question
A new lottery game has the following prize structure: x $0 $1 $2 $10 $100 P(x) .40 .30 .20 .05 .05 a) (2pts) Find the
A new lottery game has the following prize structure:
x $0 $1 $2 $10 $100
P(x) .40 .30 .20 .05 .05
a) (2pts) Find the probability that the value of the winning is less than 10 dollars?
b) (5pts) What is the expected value of the winnings of a lottery ticket for the new game? c) (5pts) What is the standard deviation of the winnings?
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Applied Statistics In Business And Economics
Authors: David Doane, Lori Seward
4th Edition
9780073521480
