Question
A student is selling tickets for the school's annual drama production. The price of a ticket is denoted by the random variable X . Tickets
A student is selling tickets for the school's annual drama production. The price of a ticket is
denoted by the random variable X. Tickets sell for either $10 or $20. The probability that a ticket sells for $10 is
and the probability that it sells for $20 is 1 .
(1)
If the average (expected) price is known to be $16 determine the probability that a ticket
costs $20.
(2)
If the average price is not known but a random sample of 9 ticket sales is as follows:
$20, $10, $10, $20, $20, $20, $10, $10, $20. Using these data find an expression for the
likelihood function L().
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